Borrowed 90000 march 1 2010 amt plus accrued int at 12

Reference no: EM13605254

Borrowed $90,000 march 1, 2010. amt plus accrued int at 12% compounded semiannually is to be repaid march 1, 2020. to retire this debt contribute to a debt retirement fund five equal amts starting march 1, 2015 and for next 4 years. fund expected to earn 10% per annum. how much must be contributed each year to provide fund sufficient to retire debt on march 1, 2020.

Reference no: EM13605254

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