Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 25

The cost of replacing part of a cell phone videochip production line in 6 years is estimated to be $500,000. At an interest rate of 14% per year, compounded semiannually, the uniform amount that must be deposited into a sinking fund every 6 months is closest to:
A) $21,335
B) $24,825
C) $27,950
D) $97,995