Swifty Corporation, having recently issued a $20,139,700,15-year bond issue, is committed to make annual sinking...
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Swifty Corporation, having recently issued a $20,139,700,15-year bond issue, is committed to make annual sinking fund depos of $616,500. 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 Will funds be sufficient
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