Question: Brief Exercise A-4 x Your answer is incorrect. Try again. Bates Company issued $700,000, 9-year bonds. It agreed to make annual deposits of $75,500 to

Brief Exercise A-4 x Your answer is incorrect. Try again. Bates

Brief Exercise A-4 x Your answer is incorrect. Try again. Bates Company issued $700,000, 9-year bonds. It agreed to make annual deposits of $75,500 to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 9 years. The deposits are made at the end of each year into an account paying 4% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 9 years? (Round answer to 2 decimal places, e.g. 25.25.) Amount in the sinking fund || 2583174.08

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