Multiple Choice
Use the sinking fund formula to determine the payment needed to reach the accumulated amount. Round the answer to
the nearest cent.
-Annual payments with 3.1% interest compounded annually for 9 years.to accumulate $4400
A) $103.63
B) $382.05
C) $431.35
D) $493.05
Correct Answer:
Verified
Correct Answer:
Verified
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