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How much of the maturity value in the fund will be interest

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1. Lisa expects her endeavor to go so well she is already planning for a future expansion of her facility. To provide for this expansion, she establishes a sinking fund into which equal payments are made at the beginning of every month. She plans on saving $75,000 over 5 years. Interest is 5.4% compounded monthly.

Question a. What is the size of the monthly payment rounded to the nearest dollar?

Question b. Complete sinking fund schedule with the payments from part a. that are rounded to the nearest dollar. Express totals at the bottom of each column as currency.

Question c. How much of the maturity value in the fund will be interest?

Reference no: EM132571352

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