Determine the interest rate needed to accumulate the following amounts in a sinking fund, with monthly payments as given.Accumulate $148,000, monthly payments of $900 over 11 years.
A. 4.55%
B. 3.05%
C. 2.35%
D. 3.85%
Answer: D
Mathematics
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A.
B.
73,300
C.
D.
E.
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