How much money must be deposited at the end of each year

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Interest given is 15% compounded quarertly. How much money must be deposited at the end of each year in order to have 500,000 at the end of yr 30? Where the tables cannot be used w/monthly compounding (sinking fund is annuity given a futur)n'=30years r=15% nominal. When i and/or n are not available in tables, the formula for the factor (sinking fund factor here) must be utilized. The formulation of any factor may also be used when the exact solution is required.

Reference no: EM131562686

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