CUET and UG exam CUET UG 2025 Mock Test Series Mathematics Financial Mathematics Sinking Funds, Bond Valuation
A company wants to set up a sinking fund to repay a loan of $10,000 in 5 years. If the sinking fund earns an annual interest rate of 6%, how much should the company deposit into the sinking fund each year?
1
$1774
2
$1560
3
$1254
4
$2,000