What amount will be in the sinking fund at the end

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Reference no: EM131206664

Ekman Company issued $1,200,000, 12-year bonds and agreed to make annual sinking fund deposits of $74,600. The deposits are made at the end of each year into an account paying 4% annual interest.

What amount will be in the sinking fund at the end of 12 years? (Round answer to 2 decimal places, e.g. 25.25.)

Reference no: EM131206664

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