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Brief Exercise A-4 Bates Company issued $600,000, 8-year bonds. It agreed to make annual deposits...

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Brief Exercise A-4 Bates Company issued $600,000, 8-year bonds. It agreed to make annual deposits of $70,000 to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 8 years. The deposits are made at the end of each year into an account paying 4% annual interest. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 8 years? (Round answer to 2 decimal places, e.g. 25.25.) Amount in the sinking fund Click if you would like to Show Work for this question: Open Show Work

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