Mejia Patel
04/14/2023 · Senior High School
®ind the interest rate needed for the sinking fund to reach the re- quired amount. Assume that the compounding period is the same as the payment period. (See Example 6.\( ) \) 19. \( \$ 50,000 \) to be accumulated in 10 years; annual payments of \( \$ 3940 \).
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The interest rate needed is approximately 6.5%.
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