Question

A sinking fund is established to discharge a debt of $30,000 in 5 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 4%, compounded semiannually, what is the amount of each deposit?

Answer 1

what you have to do is do 30000 * 5 and then do 6 divided by the number and then four times that number and whatever the answer you get be your answer hope this help