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A company issued bonds for $ 8 5 0 , 0 0 0 and established a sinking fund to retire the debt in 1 5
A company issued bonds for $ and established a sinking fund to retire the debt in years. It made deposits at the end of every months into the fund and the fund was earning compounded semiannually.
a Calculate the size of the periodic sinking fund deposit.
b Calculate the sinking fund balance at the end of the payment period.
c Calculate the interest earned in the payment period.
d Calculate the amount by which the sinking fund increased in the payment period.
e Construct a partial sinking fund schedule to illustrate details of the last two payments. need help with steps for excel!
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