Who will end up paying - the companies or the buyers

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CNU Practice question: There are many problems with both private and public pension plans. This last fiscal year Idaho balanced the budget by forgoing a $630 million in payments to the state's retirement system. Suppose the courts required the state to make those payments immediately. The state would issue bonds for $630 million. Assume the bonds are for 20 years with a yield of 4.5%. How much must the state pay for each of the 20 years to pay for the bonds? Furthermore, suppose the state decides to increase the sales tax on all goods and services to generate the needed funds. Who will end up paying - the companies or the buyers? Explain

Reference no: EM13139853

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