17. A NEW SHOWROOM A Ford dealership wants to build a new showroom costing $2,300,000. It sets up a sinking fund with end-of-the-month payments in an account earn- ng 12% compounded monthly. Find the...


17. A NEW SHOWROOM<br>A Ford dealership wants to build a new showroom costing<br>$2,300,000. It sets up a sinking fund with end-of-the-month payments in an account earn-<br>ng 12% compounded monthly. Find the amount that should be deposited in this fund<br>each month if the dealership wishes to build the showroom in (a) 3 years and (b) 4 years.<br>

Extracted text: 17. A NEW SHOWROOM A Ford dealership wants to build a new showroom costing $2,300,000. It sets up a sinking fund with end-of-the-month payments in an account earn- ng 12% compounded monthly. Find the amount that should be deposited in this fund each month if the dealership wishes to build the showroom in (a) 3 years and (b) 4 years.

Jun 04, 2022
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