Question
Download Solution PDFThe factor which converts a future requirement of fund into equal payment of annuity is called
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation:
Sinking fund factor.
- The sinking fund factor is used to determine the regular (usually equal) payments needed to accumulate a specified future amount of money.
- It converts a future financial requirement into a series of equal annuity payments.
Other options like the capital recovery factor, present value factor, and unicost present value factor relate to different financial calculations and are not specifically for converting future sums into equal periodic payments.
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