What periodic sinking fund payment allow to achieve goal

Assignment Help Financial Accounting

Reference no: EM132745655

Question - Paul and Donna Kelsch are planning a Mediterranean cruise in 5 years and will need $6,500 for the trip. They decide to set up a "sinking fund" savings account for the vacation. They intend to make regular payments at the end of each 3 month period into the account that pays 6% interest compounded quarterly. What periodic sinking fund payment (in $) will allow them to achieve their vacation goal?

Reference no: EM132745655

Questions Cloud

Discuss the basic principles for assessing internal controls : Discuss the impact of Sarbanes-Oxley on a company's internal controls. Be sure to define internal controls and discuss the basic principles for assessing.

Maintaining force competencies in port security : Describe the framework for managing and leading a security force. What is meant by maintaining force competencies in port security?

Prepare statement of revenues and expenditures : Prepare Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December 31, 2020

Benefits package is starting to develop issues : Imagine your human resource project of revamping the employee compensation and benefits package is starting to develop issues.

What periodic sinking fund payment allow to achieve goal : They decide to set up "sinking fund" savings account for the vacation. What periodic sinking fund payment (in $) will allow them to achieve their vacation goal

By how many cases will the average inventory go down : For operations management class - please click on to see entire problem JL.81 As a result of many process improvements and IT implementations (like EDI).

Explain how business ethics : Explain how business ethics and in this course that had a positive impact on you character).

What can be done to complete the recording of transaction : An accountant has debited an asset account for $1060 and credited a liability account for $530. What can be done to complete the recording of the transaction

Improve current communication skills : Analyze how you can improve your current communication skills to prepare you for advancement in your profession.

User Account

All Pages