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qid 486 · business

Question: Mr.Stadeset up a sinking fund which requires $1000 deposits made over 20 years at an annual rate of 3(1/2) percent. What is the value of the fund at the end of fifteen years?

  1. $28,852
  2. $19,648
  3. $25,000
  4. $30,000
  5. $19,296
  6. $24,350
  7. $20,150
  8. $28,280
  9. $17,800
  10. $22,500

Our answer: E. $19,296 Source quote machine-checked (exact quote)

A machine check confirms the quoted words appear at the source. A person has not yet reviewed these. EARN MARKS as a Human Reviewer

How it was answered

Stored formula / worked method, replayed by code

Future value of an ordinary annuity (sinking fund) problem

card: formula · card sha256 2c0b5ed65b3769d4…

Current source

LibreTexts Mathematics, Applied Finite Mathematics (Sekhon and Bloom), 6.3 "Annuities and Sinking Funds"

https://math.libretexts.org/Bookshelves/Applied_Mathematics/Applied_Finite_Mathematics_(Sekhon_and_Bloom)/06%3A_Mathematics_of_Finance/6.03%3A_Annuities_and_Sinking_Funds

“When a business deposits money at regular intervals into an account in order to save for a future purchase of equipment, the savings fund is referred to as a”

Source quote machine-checked (exact quote)

retrieved 2026-09-18T00:09:37.139Z

page text sha256 0caff368c36d9883… · content sha256 c4e4ae481a925688…

addendum formula_qid486.formula_ADDENDUM_source_rs20260918T000937Z · sha256 473cc6c12d09cc0b… · replaces the version below, addendum sha256 272055a16056f725…

Earlier version (superseded)

No public source has been found for this card yet (3 places checked internally).

addendum formula_qid486.formula_ADDENDUM_source · sha256 272055a16056f725…

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