Find the amount of each payment to be made into a sinking fund which earns 8​% compounded quarterly and produces ​$44,000 at the end of 3.5 years. Payments are made at the end of each period. The payment size is $_

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 15EA: Project A costs $5,000 and will generate annual after-tax net cash inflows of $1,800 for five years....
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Find the amount of each payment to be made into a sinking fund which earns 8​% compounded quarterly and produces ​$44,000 at the end of 3.5 years. Payments are made at the end of each period.

The payment size is $_

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