A bank in Calgary issued bonds for $ 4 0 0 , 0 0 0 that were
Fantastic news! We've Found the answer you've been seeking!
Question:
A bank in Calgary issued bonds for $ that were redeemable in years. It established a sinking fund that was earning compounded semiannually to retire this debt on maturity and made equal deposits at the beginning of every six months.
a What is the size of the periodic payments?
Round your answer up to the next cent
b Construct a partial sinking fund schedule, showing the details for the first two and last two payments, and the totals of the schedule.
For answers: Round to the nearest cent
Payment Period
Payment
Interest Earned
Increase in the Fund
Fund Balance
Book Value
$
$
: :
: :
: :
: :
: :
: :
: :
: :
: :
: :
: :
: :
Total
Posted Date: