document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1140367>Question 1140367</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the periodic payment for each sinking fund that is needed to accumulate the given sum under the given conditions. (Round your answer to the nearest cent.)<BR>\n" );
document.write( "FV = $2,200,000, r = 2%, compounded weekly for 15 years\r<BR>\n" );
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document.write( "ANY AND ALL HELP IS APPRECIATED! :) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #760879 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=760879\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> using my Texas Instruments Business Analyst II calculator, i do the following:\r<BR>\n" );
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document.write( "present value = 0<BR>\n" );
document.write( "future value = 2200000<BR>\n" );
document.write( "periodic payment = 0<BR>\n" );
document.write( "interest rate per time period = 2% per year / 52 = .038461538% per week<BR>\n" );
document.write( "number of time periods = 15 years * 52 = 780 weeks<BR>\n" );
document.write( "payments are made at the end of each time period\r<BR>\n" );
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document.write( "i click on payment (PMT) and the calculator tells me that the payment at the end of each time period (end of each week) is equal to -2,419.096403.\r<BR>\n" );
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document.write( "the payment is shown as negative because it's money going out, while the 2,200,000 future value is shown as positive because it's money coming in.\r<BR>\n" );
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document.write( "you can do the same with the following online calculator.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "here's a display of the result.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/050302.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "you can also do this by formula.\r<BR>\n" );
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document.write( "the formula is in the following reference.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#f3\" target = \"_blank\">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#f3</a>\r<BR>\n" );
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document.write( "the particular formula to solve this kind of problem is shown below.\r<BR>\n" );
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document.write( "ANNUITY FOR A FUTURE AMOUNT WITH END OF TIME PERIOD PAYMENTS \r<BR>\n" );
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document.write( "a = (f*r)/((1+r)^n-1) \r<BR>\n" );
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document.write( "a is the annuity.<BR>\n" );
document.write( "f is the future amount.<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods. \r<BR>\n" );
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document.write( "in this formula, the interest rate is the percent divided by 100 and all inputs are positive.\r<BR>\n" );
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document.write( "you still need to get the interest rate per time period and the number of time periods.\r<BR>\n" );
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document.write( "since the time periods are in weeks, you would do the following.\r<BR>\n" );
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document.write( "interest rate per time period = 2% / 100 = .02 per year / 52 = .0003846153846 per week.\r<BR>\n" );
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document.write( "number of time periods = 15 years * 52 weeks per year = 780 weeks.\r<BR>\n" );
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document.write( "your inputs to this formula are shown below.\r<BR>\n" );
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document.write( "a = (f*r)/((1+r)^n-1) becomes:\r<BR>\n" );
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document.write( "a = (2200000*.0003846153846)/((1+.0003846153846)^780-1)\r<BR>\n" );
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document.write( "the result is a = 2419.096404\r<BR>\n" );
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document.write( " </SPAN>\n" );
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