Operations Research : Applications and Algorithms
4th Edition
ISBN: 9780534380588
Author: Wayne L. Winston
Publisher: Brooks Cole
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2.
Transcribed Image Text:2. What equal series of payments must be paid into a sinking fund in order to accumulate each given amount?
(a) $11,000 in 10 years at 8% compounded semiannually when payments are semiannual.
(b) $3,000 in 15 years at 6% compounded quarterly when payments are quarterly.
(c) $35,000 in five years at 7.35% compounded monthly when payments are monthly.
(a) The required semiannual payment should be $
(Round to the nearest cent.)
(b) The required quarterly payment should be $
(Round to the nearest cent.)
(c) The required monthly payment should be $
(Round to the nearest cent.)
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