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Determine the amount of deficiency.

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Question

Serena Williams Corporation, having recently issued a $20,042,000, 15-year bond issue, is committed to make annual sinking fund deposits of $621,400. The deposits are made on the last day of each year and yield a return of 10%.;Determine the amount of deficiency.

 

Paper#23650 | Written in 18-Jul-2015

Price : $22
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