Sinking Fund Payment A company establishes a sinking fund to provide for the payment of
Chapter 6, Problem 31(choose chapter or problem)
Sinking Fund Payment A company establishes a sinking fund to provide for the payment of a $100,000 debt maturing in 4 years. Contributions to the fund are to be made each year. Find the amount of each annual deposit if interest is 3% per annum. Prepare a table showing the annual growth of the sinking fund.
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