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###### 8) Mr: Jonathan who is a vintage car collector negotiated to buy Ms_ Alisha s 1920 Ford Model-T for a price of S60,000. Based on the advice of her tax consultant; Ms_ Alysha Agreed with Mr: Jonathan that payment should be effected at the end of 10 years when Ms. Alisha hopes to fall in to lower tax bracket after retirement. Mr: Jonathan therefore thought it prudent to deposit money annually in a sinking fund that will accumulate S60,000 at the time he will be paying Ms_ Alisha: Assuming this sin

8) Mr: Jonathan who is a vintage car collector negotiated to buy Ms_ Alisha s 1920 Ford Model-T for a price of S60,000. Based on the advice of her tax consultant; Ms_ Alysha Agreed with Mr: Jonathan that payment should be effected at the end of 10 years when Ms. Alisha hopes to fall in to lower tax bracket after retirement. Mr: Jonathan therefore thought it prudent to deposit money annually in a sinking fund that will accumulate S60,000 at the time he will be paying Ms_ Alisha: Assuming this sinking fund will earn 6% interest compounded quarterly; calculate the regular payments that Mr: Jonathan will be making into the account each time

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