document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=45423>Question 45423</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0534465390/algebrahomeworkh>Finite math</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> A sinking fund is established to obtain $75,000 in five years.  The interest rate is 10% and payments are made quarterly.  Find the periodic payments. \r<BR>\n" );
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document.write( " I have an answer after looking at the PVIFA table but I'm having trouble with this question. My answer is #3,750.00 but I'm not sure.  Thanks for any help given. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #30190 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=30190\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A sinking fund is established to obtain $75,000 in five years.  The interest rate is 10% and payments are made quarterly.  Find the periodic payments.\r<BR>\n" );
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document.write( "Future Value = Periodic payment/i<BR>\n" );
document.write( "[75000*i)/[(1+i)^n-1] = pp<BR>\n" );
document.write( "pp = 1875/[(1.025)^20-1]<BR>\n" );
document.write( "pp = 1875/0.63861644<BR>\n" );
document.write( "Periodic Payment = $2936.03\r<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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