Solved: Is committed to make annual sinking fund deposits of 608900, Accounting Basics

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Is committed to make annual sinking fund deposits of 608900

Martinez Corporation, having recently issued a $20,009,700, 15-year bond issue, is committed to make annual sinking fund deposits of $608,900. The deposits are made on the last day of each year and yield a return of 10%.

Will the fund at the end of 15 years be sufficient to retire the bonds?

Future value of an ordinary annuity

Will funds be sufficient?

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Accounting Basics: Is committed to make annual sinking fund deposits of 608900

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Accounting Basics: Is committed to make annual sinking fund deposits of 608900

Reference No:- TGS02554124

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