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A state establishes a sinking fund of $ 3 0 0 million for bonds that will mature in 2 5 years. How much money (
A state establishes a sinking fund of $ million for bonds that will mature in years. How much money in dollars must be deposited at the end of each month into an account that earns an annual interest rate of compounded monthly to retire the $million bond debt? Round your answer to the nearest cent. See Example in this section.
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