A. Your bank pays 8% interest, compounded quarterly. Use Table 12-2 from your text to...
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Accounting
A. Your bank pays 8% interest, compounded quarterly. Use Table 12-2 from your text to find how much you should deposit now to yield an annuity payment of $1,300 at the BEGINNING of each three months, for 2 years.
a. $9,523.13
b. $9,713.59
c. $8,413.59
d. $10,823.13
B.Mechanics Hardware needs to accumulate $41,000 in 3 years to purchase new equipment. What sinking fund payment would they need to make at the END of each month, at 6% interest compounded monthly? (Use Table 12-1 from your text)
a. $1,399.56
b. $1,885.21
c. $2,111.35
d. $1,042.30
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