Sage Corporation, having recently issued a $20,101,200, 15-year bond issue, is committed to make annual sinking fund deposits of $620,500. The deposits are made on the last day of each year and yield a return of 10%. (Use the table below.)

Determine the amount of deficiency.?

 

 

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(n) Periods 8% 9% 10% 11% 12% 15% 1.00000 2.08000 1.00000 2.09000 1.00000 2.15000 1.00000 1.00000 2.11000 1.00000 2.12000 2.10000 3.37440 4.77933 3.24640 3.27810 3.31000 3.34210 3.47250 3 4.50611 4.57313 4.99338 4.64100 6.10510 4.70973 5.86660 5.98471 6.22780 8.35285 6.74238 7.91286 8.75374 11.06680 13.72682 16.78584 20.30372 7.33592 7.52334 7.71561 8.11519 6 8.92280 10.63063 12.48756 14.48656 9.20044 9.48717 9.78327 10.08901 7 11.02647 13.02104 11.43589 11.85943 12.29969 13.57948 14.16397 14.77566 15.19293 15.93743 16.72201 17.54874 10 16.64549 18.97713 21.49530 24.21492 27.15211 20.65458 24.13313 28.02911 17.58029 18.53117 19.56143 24.34928 11 20.14072 22.95339 21.38428 22.71319 29.00167 12 24.52271 26.21164 34.35192 13 40.50471 47.58041 26.01919 27.97496 30.09492 32.39260 14 29.36092 31.77248 34.40536 37.27972 15 30.32428 33.00340 35.94973 39.18995 42.75328 55.71747 65.07509 16 17 33.75023 36.97371 40.54470 44.50084 48.88367 55.74972 63.43988 75.83636 88.21181 37.45024 41.30134 46.01846 45.59917 50.39593 18 19 41.44626 51.15909 58.93949 45.76196 51.16012 57.27500 64.20283 72.05244 102.44358 20 64.00250 71.40275 118.81012 50.42292 55.45676 56.76453 72.26514 81.69874 21 92.50258 104.60289 118.15524 62.87334 81.21431 137.63164 22 60.89330 66.76476 73.10594 69.53194 76.78981 79.54302 91.14788 159.27638 23 88.49733 102.17415 184.16784 24 84.70090 98.34706 114.41331 133.33387 212.79302 25 79.95442 93.32398 109.18177 127.99877 150.33393 245.71197 26 121.09994 169.37401 190.69689 87.35077 102.72314 143.07864 159.61729 283.56877 27 95.33883 112.96822 134.20994 327.10408 28 103.96594 113.28321 124.13536 148.63093 178.39719 214.58275 377.16969 29 136.30754 164.49402 199.02088 241.33268 434.74515 30 123.34587 149.57522 181.94343 221.91317 271.29261 500.95692 31 134.21354 164.03699 201.13777 247.32362 275.52922 304.84772 342.42945 577.10046 32 145.95062 179.80032 222.25154 644.66553 33 158.62667 245.47670 196.98234 215.71076 306.83744 384.52098 431.66350 765.36535 34 172.31680 271.02437 341.58955 881.17016 35 299.12661 330.03949 484.46312 1014.34568 1167.49753 1343.62216 1546.18549 187.10215 236.12472 380.16441 36 203.07032 256.37595 422.98249 543.59869 37 220.31595 282.62978 364.04343 470.51056 609.83053 38 238.94122 309.06646 401.44778 523.26673 684.01020 39 259.05652 337.88245 442.59256 581.82607 767.09142 1779.09031 40 1234 (n) Periods 8% 9% 10% 11% 12% 15% 1.00000 2.08000 1.00000 2.09000 1.00000 2.15000 1.00000 1.00000 2.11000 1.00000 2.12000 2.10000 3.37440 4.77933 3.24640 3.27810 3.31000 3.34210 3.47250 3 4.50611 4.57313 4.99338 4.64100 6.10510 4.70973 5.86660 5.98471 6.22780 8.35285 6.74238 7.91286 8.75374 11.06680 13.72682 16.78584 20.30372 7.33592 7.52334 7.71561 8.11519 6 8.92280 10.63063 12.48756 14.48656 9.20044 9.48717 9.78327 10.08901 7 11.02647 13.02104 11.43589 11.85943 12.29969 13.57948 14.16397 14.77566 15.19293 15.93743 16.72201 17.54874 10 16.64549 18.97713 21.49530 24.21492 27.15211 20.65458 24.13313 28.02911 17.58029 18.53117 19.56143 24.34928 11 20.14072 22.95339 21.38428 22.71319 29.00167 12 24.52271 26.21164 34.35192 13 40.50471 47.58041 26.01919 27.97496 30.09492 32.39260 14 29.36092 31.77248 34.40536 37.27972 15 30.32428 33.00340 35.94973 39.18995 42.75328 55.71747 65.07509 16 17 33.75023 36.97371 40.54470 44.50084 48.88367 55.74972 63.43988 75.83636 88.21181 37.45024 41.30134 46.01846 45.59917 50.39593 18 19 41.44626 51.15909 58.93949 45.76196 51.16012 57.27500 64.20283 72.05244 102.44358 20 64.00250 71.40275 118.81012 50.42292 55.45676 56.76453 72.26514 81.69874 21 92.50258 104.60289 118.15524 62.87334 81.21431 137.63164 22 60.89330 66.76476 73.10594 69.53194 76.78981 79.54302 91.14788 159.27638 23 88.49733 102.17415 184.16784 24 84.70090 98.34706 114.41331 133.33387 212.79302 25 79.95442 93.32398 109.18177 127.99877 150.33393 245.71197 26 121.09994 169.37401 190.69689 87.35077 102.72314 143.07864 159.61729 283.56877 27 95.33883 112.96822 134.20994 327.10408 28 103.96594 113.28321 124.13536 148.63093 178.39719 214.58275 377.16969 29 136.30754 164.49402 199.02088 241.33268 434.74515 30 123.34587 149.57522 181.94343 221.91317 271.29261 500.95692 31 134.21354 164.03699 201.13777 247.32362 275.52922 304.84772 342.42945 577.10046 32 145.95062 179.80032 222.25154 644.66553 33 158.62667 245.47670 196.98234 215.71076 306.83744 384.52098 431.66350 765.36535 34 172.31680 271.02437 341.58955 881.17016 35 299.12661 330.03949 484.46312 1014.34568 1167.49753 1343.62216 1546.18549 187.10215 236.12472 380.16441 36 203.07032 256.37595 422.98249 543.59869 37 220.31595 282.62978 364.04343 470.51056 609.83053 38 238.94122 309.06646 401.44778 523.26673 684.01020 39 259.05652 337.88245 442.59256 581.82607 767.09142 1779.09031 40 1234

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