document.write( "Question 85841: 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
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document.write( "Here is what I have dome so far.\r
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document.write( "I am using the formula A=R * (1+i)^n -1 / i\r
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document.write( "I am using 0.10/5 = .02 as i\r
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document.write( "I am using (quarterly means 4)* 5 years = 20 as n\r
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document.write( "in the formula.. .02 + 1 = 1.02\r
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document.write( "1.02^20 = 27.8628559 (am I correct in this sum??)-1 = 27.8628558\r
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document.write( "27.8628558/.02 = 1393.14279\r
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document.write( "75000 / 1393.14279 = 53.83511334\r
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document.write( "WHAT AM I DOING WRONG??? My possible answers to this problem are\r
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document.write( "A. 3,750
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document.write( "B. 2,936.03
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document.write( "C. 2,500
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document.write( "D. 2,148.65 \n" );
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Algebra.Com's Answer #62049 by jim_thompson5910(35256)![]() ![]() ![]() You can put this solution on YOUR website! Check out this solution solution \n" ); document.write( " |