Question: Your answer is partially correct. Teal Corporation, having recently issued a $20,110,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,200.

Your answer is partially correct. Teal Corporation, having recently issued a $20,110,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,200. The deposits are made on the last day of each year and yield a return of 10%. Click here to view factor tables. Will the fund at the end of 15 years be sufficient to retire the bonds? Future value of an ordinary annuity $ 84,006,168.4 Will funds be sufficient? No

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