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Question: Calculate: 1. The size of the periodic


Calculate:
1. The size of the periodic sinking fund payment.
2. The balance in the sinking fund at the time indicated in the last column. (Round the sinking fund payment to the nearest dollar before calculating the balance.)
End-of-term amount of sinking fund ($ millions) = 10
Terms (years) = 10
Sinking fund rate of return (%) = 6.5
Payment and compounding interval = 3 months
Payment at beginning or end of interval = Beginning
Calculate balance at the end of interval = 28


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2.99

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