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Calculate the annual amount of sinking fund

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A sinking fund is to be set up for the purchase of a machine in 5 years time. The present cost of the machine is RM6000. Calculate the annual amount that should be paid into the sinking fund if the cost of the machine is expected to rise at 5% p.a over the next 5 years assuming an interest rate of 4%.pa

Reference no: EM132853516

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