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Calculate the amount of the periodic payments

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For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent:

Sinking Fund

Payment

Time

Nominal

Interest

Future Value

Payment

Frequency

Period

Rate

Compounded

(Objective)

__________

every 3 mos

  1 1/2 yesrs

16%

quarterly

$2,500

Reference no: EM131760548

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