sinking fund for getting a lump sum It has borrowed 50 000 for the business at 8 interest The amount has to be repaid at the end

Question

sinking fund for getting a lump sum It has borrowed 50 000 for the business at 8 interest The amount has to be repaid at the end of the fifth year The sinking fund may earn an interest at 6 compounded monthly What is the total amount to be invested including the interest payment

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