A company borrowed $40,000 for 3 years at 6% compounded daily. It will not make any payments on this loan prior to maturity. Find (a) the total future value they will need to accumulate to pay off this debt, and (b) the quarterly sinking fund payment needed to accumulate this maturity value, assuming a 5% rate.

a A=$47,887.81

b.A=$46,430.80

Step-by-step explanation:

a. Given the initial amount is $40,000 with a 3-year term and a 6% rate compounded daily.

-Take 1 year=365 days

#First we calculate the effective interest rate corresponding to the daily compounding;

#We use the calculated effective rate, 0.06183, to solve for the future value as:

Hence, the total future value for a daily compounding is $47,887.81

b. For a sinking fund with a 5% compounded quarterly:

#We calculate the annual effective rate:

#We use the calculated effective rate, 0.05095, to solve for the future value as:

Hence, the future value of the sinking fund is $46,430.80

black lol

step-by-step explanation:

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i can tell you jamal now has 3 cookies xd

tommy has 2.

this made me lol.

according to the triangle sum theorem, all the angles in a triangle must add up to 180 degrees. if we know one angle is already 90, we do 180-90=90. the other 2 angles must add up to 90, exactly.

step-by-step explanation: