Sinking Fund Payment: A company establishes a sinking fund to provide for the payment of a...
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Sinking Fund Payment: A company establishes a sinking fund to provide for the payment of a $100,000 debt maturing in 4 years. Contributions to the fund are to be made each year. Find the amount of each annual deposit if interest is 3% per annum. Prepare a table showing the annual growth of the sinking fund. (Show all work) Sinking Fund Payment: A company establishes a sinking fund to provide for the payment of a $100,000 debt maturing in 4 years. Contributions to the fund are to be made each year. Find the amount of each annual deposit if interest is 3% per annum. Prepare a table showing the annual growth of the sinking fund. (Show all work)
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Answer rating: 100% (QA)
Regulan Payment per year 7 st Ind PV n 4 3 3 100 R 1 1in i 100000 R 1 10033 003 10... View the full answer
Related Book For
College Accounting A Practical Approach chapte
ISBN: 9780133791006
13th edition
Authors: Jeffrey Slater
Posted Date:
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