If the bond has a sinking fund that requires the firm to set aside annually with a trustee sufficient
If the bond has a sinking fund that requires the firm to set aside annually with a trustee sufficient funds to retire the entire issue at maturity, how much must the firm remit each year for 10 years if the funds earn 8 percent annually and there is $100 million outstanding?
I get an answer of $6,902,949 is that correct? if not what is the answer?
12 years ago 5
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