Question: Oriole Company issued $ 1 , 0 0 0 , 0 0 0 , 9 - year bonds. It agreed to make annual deposits of

Oriole Company issued $1,000,000,9-year bonds. It agreed to make annual deposits of $77,500 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 9% annual interest.
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What amount will be in the sinking fund at the end of 9 years? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, eg.25.25.)
Amount in the sinking fund $
 Oriole Company issued $1,000,000,9-year bonds. It agreed to make annual deposits

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