155,223 views
28 votes
28 votes
Delaware Corporation sets up a sinking fund for getting a lump sum. It has borrowed $50,000 for the business at 8% interest. The amount has to be repaid at the end of the fifth year. The sinking fund may earn an interest at 6% compounded monthly. What is the total amount to be invested including the interest payment?

User Ahmed AEK
by
2.7k points

1 Answer

16 votes
16 votes
1.3% that is the payment interest I’m pretty sure
User JakubM
by
2.9k points