Find the future value of bond

Reference no: EM1344111

Kate Greenway Corporation, having recently issued a $20,113,000, 15-year bond issue, is committed to make annual sinking fund deposits of $610,000. 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? If not, what will the deficiency be? (Round answers to 0 decimal places, e.g. $458,581.)

Reference no: EM1344111

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Find the future value of bond : Kate Greenway company, having recently issued a $20,113,000, 15 year bond issue, is committed to make yearly sinking fund deposits of $610,000.

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