Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$72,000; money earns 4.7% compounded monthly for 1 years

A. $4369.28
B. $1010.74
C. $1073.31
D. $1550.02


Answer: A

Mathematics

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