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Business, 06.06.2020 22:00 chloesmolinski0909

Culver Corporation, having recently issued a $20,069,100, 15-year bond issue, is committed to make annual sinking fund deposits of $616,800. The deposits are made on the last day of each year and yield a return of 10%. 1. Will the fund at the end of 15 years be sufficient to retire the bonds? 2. Future value of an ordinary annuity $ is?
3. Will funds be sufficient?

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Culver Corporation, having recently issued a $20,069,100, 15-year bond issue, is committed to make a...
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