Need Help w/ sinking-fund formula, semiannual payments w/ 5​% interest, where...

[AidenWolf]

Need Help w/ sinking-fund formula, semiannual payments w/ 5​% interest, where...

Use the sinking fund formula shown to the right to determine the semiannual payments with 5​%

interest are compounded semiannually for 8 years to accumulate

​$67,000

 

[Deleted member 4993]

Use the sinking fund formula shown to the right to determine the semiannual payments with 5​%

interest are compounded semiannually for 8 years to accumulate

​$67,000

Which formula - which right ....

 

[AidenWolf]

Thank You!

Probably means this:
i = .025 (assuming 5% annual cpd. semiannually)
n = 16
f = 67000 (future value)
p = ? (semiannual payment)

formula to the right..........................................................p = f*i / [(1 + i)^n - 1]

All yours Aiden...

Thank You Denis!