How much is her quarterly payment

Reference no: EM133616982

Problem: A company needs to accumulate $1,800,000 in 3 years. How much must it set aside semi-annually at 7% to meet this sinking fund goal? Jenny bought a business for $340,000 by putting $40,000 down and financing the rest for 7 years at 12% compounding quarterly. How much is her quarterly payment?

Reference no: EM133616982

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