Solution-What amount will be in the sinking fund at the end

What amount will be in the sinking fund at the end of years

Reference no: EM133177776

Question - Cullumber Company issued $1,200,000, 13-year bonds. It agreed to make annual deposits of $76,500 to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 13 years. 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 13 years?

Reference no: EM133177776

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What amount will be in the sinking fund at the end of years

Reference no: EM133177776

Reference no: EM133177776

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