$2000 is deposited into a sinking fund at the end of each year for 5 years. The fund earns interest at 10% per year, compounded annually.
What is the principal of the fund right after the fifth deposit has been made?© BrainMass Inc. brainmass.com March 4, 2021, 9:16 pm ad1c9bdddf
The amount in the fund would be the future value of the $2,000 ...
The solution explains how to calculate the value of a sinking fund.