Sinking fund is managed by trustee

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Reference no: EM131993624

1. A sinking fund is managed by a trustee for which one of the following purposes?

1. Reducing bond coupon rates.

2. Converting bonds into equity securities.

3. Early bond redemption.

4. Paying preferred dividends.

5. Paying bond interest payments.

2. Mr. Miser loans money at an annual rate of 23 percent. Interest is compounded daily. What is the actual rate Mr. Miser is charging on his loans?

1. 25.91 percent

2. 25.48 percent

3. 25.52 percent

4. 26.19 percent

5. 25.85 percent

Reference no: EM131993624

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