The amount of each payment to be made into a sinking fund which earns 9% compounded quarterly and produces $43 comma 000 at the end of 3.5 years. payments are made at the end of each period.

$2647.18

Step-by-step explanation:

Data provided in the question:

Rate = 9% compounded quarterly

interest rate per period, i = 9% ÷ 4 = 2.25% = 0.0225

Future value = $43,000

Time = 3.5 years

Number of periods,  = 3.5 × 4 = 14

Now,

Let the annual payments be 'A'

Thus,

Future value = A × [ (1 + i)ⁿ - 1 ) ÷ i ]

or

$43,000 = A × [ (1 + 0.0225)¹⁴ - 1 ) ÷ 0.0225 ]

or

$43,000 = A × 16.244

or

A = $2647.18

£56

step-by-step explanation:

u divide 24 by 3 and u get 8 so if u do 8 time 7 or 8+8+8+8+8+8+8 u get 56 and 56 divided by 7 is 8.