math for busness and finance

what sinking fund payment would be required at the end of each six-month period, at 12% interest compounded semiannually, in order to amount to $40,000 within four years?

  1. 👍 0
  2. 👎 0
  3. 👁 162
asked by Chudy
  1. Paym(1.06^8 - 1)/.06 =40000
    payment = 4000(.06)/(1.06^8 - 1)
    = $ 4041.44

    1. 👍 0
    2. 👎 0
    posted by Reiny
  2. A sporting goods store recorded net sales of $526,200 for the year. The store's beginning inventory at retail was $232,100 and its ending inventory at retail was $215,100, what would be the inventory turnover at retail, rounded to the nearest tenth?

    1. 👍 0
    2. 👎 0
    posted by chuddy

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math sinking payment

    Could some one please explian What is a sinking fund payment.. Example at 8% interest compounded quarterly in order to reach $20,000 with in five years the sinking payment would be required at the end of each three month period

    asked by Anonymous on November 14, 2007
  2. math

    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?

    asked by alisha on September 23, 2010
  3. math for business and finance

    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 5 years?

    asked by melissa on April 29, 2013
  4. business math

    I'm trying to solve this problem: 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. I just need to know how to work the problem

    asked by Valerie on January 14, 2011
  5. Finance - Loans problem please help

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the

    asked by Tina on April 1, 2015
  6. Please Help me with a Finance - Loan problem

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the

    asked by Tina on April 1, 2015
  7. Business Finance

    A printing press is considering borrowing GHS35, 000 to purchase a new generator set. This move is to argument power supply as the current power crisis is having a serious negative effect, on the company’s production and revenue

    asked by Alvin on April 22, 2016
  8. Finance - Loans problem

    Reiny the answer 307.33 you posted at the bottom is coming up incorrect. please if you can help i would be very grateful. A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The

    asked by Anonymous on April 1, 2015
  9. Finance - Loans problem

    Can someone please explain how this problem is laid out to solve.A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the

    asked by Anonymous on March 31, 2015
  10. Finance - Loans problem

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the

    asked by Anonymous on March 31, 2015

More Similar Questions