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The deposits are made on the last day of each year and

Question - Kate Greenway Corporation, having recently issued a $20,081,600, 15-year bond issue, is committed to make annual sinking fund deposits of $609,100. The deposits are made on the last day of each year and yield a return of 10%. What will the fund at the deficiency be at the end of 15 years to retire the bonds?

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Accounting Basics: The deposits are made on the last day of each year and

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Accounting Basics: The deposits are made on the last day of each year and

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