# MATH HELP

posted by .

Find the periodic payments necessary to accumulate \$20,000 in a sinking fund paying 4% per year, with monthly payments for 5 years. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)

## Similar Questions

1. ### math

Find the amount accumulated in the sinking fund if \$200 is deposited monthly for 14 years at 3% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
2. ### MATHEMATICS

Find the amount accumulated in the sinking fund if \$1600 is deposited quarterly for 20 years at 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
3. ### MATH

Find the amount accumulated in the sinking fund if \$1600 is deposited quarterly for 20 years at 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
4. ### MATH

Find the amount accumulated in the sinking fund if \$1600 is deposited quarterly for 20 years at 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
5. ### MATH

Find the amount accumulated in the sinking fund if \$1600 is deposited quarterly for 20 years at 6% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
6. ### MATH

Find the amount accumulated in the sinking fund if \$350 is deposited monthly for 14 years at 7% per year. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest dollar.)
7. ### Math Finance

Word problem asks to find rate of interest on a monthly deposit for a sinking fund that is needed to produce 130,000 in 20 years. I applied the model, (fv/pv)^1/t -1 I use n/t if compounding yearly, quaterly, etc. No matter what I've …