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8. Sinking Funds. Woods Edge would like to borrow $12 million for 20 years through a bond issue. It plans to establish a sinking fund

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8. Sinking Funds. Woods Edge would like to borrow $12 million for 20 years through a bond issue. It plans to establish a sinking fund in an account that can be expected to earn about 6% annually. How much would Blanchard have to deposit each year if the fund started (9 points) a. When the bonds are issued. b. 5 years after the bonds are issued

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