Question: An 11-year Loan Of L At Annual Effective Interest Rate I = 5% To Be Repaid By The Sinking Fund Method. The Sinking Fund Earns An Annual Effective Interest Rate Of 4.7%. Immediately Following The Seventh Payment (7-th) Payment And Deposit. The Outstanding Loan Balance Under Sinking Fund Deposit Is 6241 (Original Loan – Accumulation Of Sinking Fund Deposit). …

Question: An 11-year Loan Of L At Annual Effective Interest Rate I = 5% To Be Repaid By The Sinking Fund Method. The Sinking Fund Earns An Annual Effective Interest Rate Of 4.7%. Immediately Following The Seventh Payment (7-th) Payment And Deposit. The Outstanding Loan Balance Under Sinking Fund Deposit Is 6241 (Original Loan – Accumulation Of Sinking Fund Deposit). …

An 11-year loan of L at annual effective interest rate i = 5% tobe repaid by the sinking fund method. The sinking fund earns anannual effective interest rate of 4.7%. Immediately following theseventh payment (7-th) payment and deposit. The outstanding loanbalance under sinking fund deposit is 6241 (Original Loan -Accumulation of Sinking Fund Deposit). Calculate the sinking fundDeposit (D).