What Is the Amount of Interest Earned in the 33rd

question 24

Multiple Choice

What is the amount of interest earned in the 33rd semi-annual deposit interval of a sinking fund that is set up to pay back a debt of $220000 over 19 years? The fund earns 4.62% compounded semi-annually and the deposits are made semi-annually.

• A) $3690.27
• B) $3990.27
• C) $3660.27
• D) $3960.27
• E) $3760.27

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