C C.

asked • 09/19/13

Sinking fund

Jack borrowed $25000 at 8% for 5 years. He also opened a sinking fund account that pays 6%. How much should he pay for the interest on his loan? What size deposit should he make to his sinking fund to pay off the principal of his loan on time?

1 Expert Answer

By:

Thomas L. answered • 09/19/13

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