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A company is committed to make annual sinking fund deposits of $90,000. The deposits are made on the last day of each year and yield

A company is committed to make annual sinking fund deposits of $90,000. The deposits are made on the last day of each year and yield a return on 10 percent. Will the fund at the end of 15 years be sufficient to retire the bonds?

Is numbers of years in this case 14 years or 15 years?

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