Answer to Question #341709 in Financial Math for Getaneh

Question

NTT Company purchased a delivery truck on credit from AMCE which requires a payment of Br. 400, 000 plus 5% interest compounded annually at the end of 5 years. The Company plans to set up a sinking fund to accumulate the amount required to settle the debt.

Required:

find the total debt at the end of the 5 year.

what should be the monthly deposit into the fund be if the account pays 15% interest, compounded monthly?

Answer 1

It's been a while since this question is posted here. Still, the answer hasn't been got. Consider converting this question to a fully qualified assignment, and we will try to assist. Please click the link below to proceed: Submit order