SIMPLE INTEREST AND DISCOUNT - OpenStax CNX
16) A lottery pays $10,000 per month for the next 20 years. If the interest rate is 7.8%, find both its present and future values. 17) A corporation estimates it will need $300,000 in 8 years to replace its existing machinery. How much should it deposit each quarter in a sinking fund earning 8.4% compounded quarterly to meet this obligation? ................
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