Homework Help: math

Posted by alisha on Thursday, September 23, 2010 at 8:08pm.

What sinking fund payment would be required at the end of each three-month period, at
8% interest compounded quarterly, in order to amount to $20,000 within five years?

math - Reiny, Thursday, September 23, 2010 at 8:12pm
solve for x
20000 = x[1.02)^20 - 1]/.02

I got 823.13

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