Essay
To redeem a $100 000.00 promissory note due in 12 years,Flinstone Inc.has set up a sinking fund earning 7.25% compounded semi-annually.Equal deposits are made at the beginning of every six months.
a)What is the size of the semi-annual deposits?
b)How much of the maturity value of the fund is deposits?
c)How much is interest?
Correct Answer:
Verified
a)100000.00 = PMT 
(1.03625) ...View Answer
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Correct Answer:
Verified
(1.03625) ...View Answer
Unlock this answer now
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