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Determine the amount of deficiency

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Cullumber Corporation, having recently issued a $20,101,200, 15-year bond issue, is committed to make annual sinking fund deposits of $620,500. The deposits are made on the last day of each year and yield a return of 10%.

Question 1: Determine the amount of deficiency. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

 

 

Reference no: EM132465966

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