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| rev | Admin | (Created page with "(Chapter 2, May.2003.15) John borrows 1000 for 10 years at an annual effective interest rate of 10%. He can repay this loan using the amortization method with payments of P at the end of each year. Instead, John repays the 1000 using a sinking fund that pays an annual effective rate of 14%. The deposits to the sinking fund are equal to P minus the interest on the loan and are made at the end of each year for 10 years. Determine the balance in the sinking fund immediatel...") | Nov 27'23 at 0:05 | +841 |