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Will fund at end of fifteen years be sufficient to retire

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Wildhorse Corporation, having recently issued a $ 20,110,400, 15-year bond issue, is committed to make annual sinking fund deposits of $ 612,200. The deposits are made on the last day of each year and yield a return of 10%.

Problem 1: Will the fund at the end of 15 years be sufficient to retire the bonds?

Reference no: EM132996229

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