Posted by **Debra** on Wednesday, November 9, 2011 at 9:14pm.

Parents have set up a sinking fund in order to have $120,000 in 15 years for their children's education. How much should be paid semiannually into an account paying 6.8% compounded semiannually?

PMT = FV ____i_____

(1 + i)^n – 1

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