A) Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 9% basis that will enable him to withdraw $15,390 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, Tony intends to make equal contributions on June 30 of each of the years 20202023

a) How much must the balance of the fund equal on June 30, 2023, in order to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

b) What are each of his contributions to the fund? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

B) He recently signed a lease for a new office building, for a lease period of 10 years. Under the lease agreement, a security deposit of $14,930 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 5% per year.

a) What amount will the company receive at the time the lease expires? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

b) They recently issued a $20,054,300, 15-year bond issue, is committed to make annual sinking fund deposits of $616,500. The deposits are made on the last day of each year and yield a return of 10%. Will the fund at the end of 15 years be sufficient to retire the bonds? What is the future value of an ordinary annuity ? Will the funds be sufficient

c) They have recently issued a $20,054,300, 15-year bond issue, is committed to make annual sinking fund deposits of $616,500. The deposits are made on the last day of each year and yield a return of 10% Determine the amount of deficiency.

d) Under the terms of his salary agreement, the president has an option of receiving either an immediate bonus of $60,500, or a deferred bonus of $77,000 payable in 10 years. Ignoring tax considerations and assuming a relevant interest rate of 4%, which form of settlement should he accept? what is the present value deferred bonus?