Thermo-Tech Systems recently sold a $20 million bond issue with a 20-year maturity and a coupon rate
Question:
a. What must the size of the sinking fund payments be if the fund earns 4.5% compounded semiannually?
b. How much interest will the fund earn in the sixth year?
c. How much will the fund increase in the twenty-seventh payment interval?
d. Construct a partial sin king fund schedule showing details of the first two and the last two payments, and the total of the interest earned.
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