Future Value |
The amount of money desired at the end of the period. |
$10,000 |
Annual Interest Rate |
The annual interest rate earned on the sinking fund. |
5% |
Number of Years |
The number of years over which the fund is accumulated. |
10 years |
Periodic Payment |
The amount of money to be deposited periodically to achieve the future value \(\frac{\text{Future Value}}{\left(\left(1 + \frac{\text{Annual Interest Rate}}{100}\right)^{\text{Number of Years}} – 1\right) \div \left(\frac{\text{Annual Interest Rate}}{100}\right)}\). |
$818.43 |