Hot Wheels Depot Needs to Accumulate $25,000 in 6 Years

question 63

Multiple Choice

Hot Wheels Depot needs to accumulate $25,000 in 6 years to purchase new equipment. What sinking fund payment would they need to make at the END of every three months, at 8% interest compounded quarterly? (Use Table 12-1 from your text)

• A) $821.78
• B) $679.42
• C) $545.96
• D) $620.42

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Profit Margin Ratio

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