(61) Riverbed Corporation, having recently issued a $20.009,700. 15-year bond issue. is committed to make...
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(61)
Riverbed Corporation, having recently issued a $20.009,700. 15-year bond issue. is committed to make annual sinking fund deposits of $608,900. The deposits are made on the last day of each year and yield a return of 10%.
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Will the fund at the end of 15 years be sufficient to retire the bonds?
Future value of an ordinary annuity
Will funds be sufficient?
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