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How much must they deposit at the end of every six months

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Question - Mountain Equipment Co-op has just issued $1,000,000 in 10-year bonds. They are required to establish a sinking fund in order to save enough money to pay the bond redemption when it comes due. How much must they deposit at the end of every six months into an account earning j2=4% in order to save the $1,000,000?

Reference no: EM133006789

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