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What additional amount required in final year to retire bond

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Reference no: EM132647119

Problem 1: Ismail Berhad also wants to accumulate RM 50,000 on December 31, Year 10, to retire some bonds. The company deposits RM 3,000 in a savings account on December 31, Year 1, which will earn interest at 6% compounded annually. Ismail Berhad 's controller asks you to figure out what additional amount is required in the final year to retire bonds.

Reference no: EM132647119

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