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.$7000; money earns 7% compounded annually; 10 annual payments

A. $506.64
B. $584.41
C. $249.09
D. $443.50


Answer: A

Mathematics

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