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How much interest did he received after a year of depositing

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Question - A business needs 1,550,000 in eight years. How much should be deposited each quarter in a sinking fund that earns 9 3/4% compounded quarterly to have this amount in eight years?

Using the problem presented above, construct a sinking fund schedule to answer what is being asked below.

A. How much interest did he received after a year of depositing?

B. How much total interest he received after 8 years?

C. How much funding at the end of 2 1/2 years of depositing?

Reference no: EM133092579

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