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Calculate the quarterly sinking fund payment

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You are asked to calculate the quarterly (in arrears) sinking fund payment required to provide for the replacement of a ventilation extractor system in a factory in 5 years' time. You estimate that it will cost $50,000 then (end year 5). Assuming an annual interest rate of 3.5% (effective), what is the amount of the quarterly sinking fund payment?

Reference no: EM132680593

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