Solution-Purchase new equipment, Mechanic's Hardware needs

Purchase new equipment

Reference no: EM131319760

Mechanic's Hardware needs to accumulate $41,000 in 3 years to purchase new equipment. What sinking fund payment would they need to make at the END of each month, at 6% interest compounded monthly? (Use Table 12-1 from your text)

$2,111.35
$1,885.21
$1,042.30
$1,399.56

Reference no: EM131319760

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Purchase new equipment

Reference no: EM131319760

Reference no: EM131319760

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