Question: i want answer in 30 mins and correct answer thanks for your help A company has to retire 500,000 debenture of 8% interest 10 years

i want answer in 30 mins and correct answer thanks for your help

i want answer in 30 mins and correct answer

A company has to retire 500,000 debenture of 8% interest 10 years from today. The company plans to put a fixed amount into a sinking fund each year for 10 year. A separate fund is created for the purpose. The first payment will be paid at the end of the current year. The company anticipated that the fund will earn 6% a year. What should be the installments to accumulate 500,000 from now

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