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Find the Amount of Each Payment Needed to Accumulate the Indicated

question 31

Multiple Choice

Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent. Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest cent.   -$6,700, money earns 5% compounded annually, 8 years A) $822.89 B) $701.62 C) $727.15 D) $676.97
-$6,700, money earns 5% compounded annually, 8 years


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