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Semiannual sinking fund payment would be required to yield

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Reference no: EM131627734

Question: 1. Tim Warren is setting up an ordinary annuity and wants to receive $10,000 semiannually for the next 20 years. How much should he set aside at 6% annual interest compounded semiannually?

2. What semiannual sinking fund payment would be required to yield $48,000 nine years from now? The annual interest rate is 6% compounded semiannually.

Reference no: EM131627734

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