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Carla Vista Co. issued $1,500,000, 15-year bonds and agreed to make annual sinking fund deposits of $79,000. The deposits are made at the end of
Carla Vista Co. issued $1,500,000, 15-year bonds and agreed to make annual sinking fund deposits of $79,000. The deposits are made at the end of each year into an account paying 4% annual interest.
Future Value of an Annuity of 1 (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What amount will be in the sinking fund at the end of 15 years? (Round answer to 2 decimal places, e.g. 25.75.)
Amount in the sinking fund?
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