Sinking fund accumulate the future value

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Reference no: EM131540028

Find the monthly payment, needed to have a sinking fund accumulate the future value, $16,000. The yearly interest rate is 6.7% and the number of payments is 20. Interest is compounded monthly. Round your answer to the nearest cent.

Type only numbers. (i.e. Do not type "$" or "," in your answer) and NO spaces.

Reference no: EM131540028

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