Business mathmatics two help

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Question description

24. What is a sinking fund?
A. It requires one lump sum payment at the beginning.
B. It doesn't compound its money.
C. It's not really an annuity.
D. It aids in meeting a future obligation.
25. A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of five years. If
the truck was bought on July 3, what would be the book value at the end of year 1 using straight-line rate?
A. $12,500
B. $16,000
C. $14,500
D. $1,500

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