find the size of each 5 payments made at the end of each year into a 6% rate sinking fund which produces 76000 at the end of 5 years
Added by Kaitlyn S.
Step 1
06 Number of years = 5 76000 = Principal * (1 + 0.06)^5 76000 = Principal * (1.3382255776) Principal = 76000 / 1.3382255776 Principal ≈ 56748.79 Show more…
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