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| rev | Admin | (Created page with "Aiden takes out a 30 year loan for $24,000 to be repaid with payments at the end of each year consisting of interest on the loan and a sinking fund deposit. Interest is charged at a 16% annual rate. The sinking fund’s annual rate is 11%. However, beginning in the 13th year, the annual effective interest rate on the sinking fund drops to 8%. As a result, the payments are increased by X. Calculate X. <ul class="mw-excansopts"><li>$228.01</li><li>$348.60</li><li>$447.1...") | Nov 22'23 at 9:28 | +781 |