Question
Clearlake Optical has a $50,000 note that comes due in 5 years. The owners wish to create a sinking fund to pay this note. If
Clearlake Optical has a $50,000 note that comes due in 5 years. The owners wish to create a sinking fund to pay this note. If the fund earns 2.5% compounded semiannually, how much must each semiannual deposit be? (Round your answer to the nearest cent.)
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Corporate Finance, European Edition
Authors: Peter Moles, Robert Parrino, David S. Kidwell
1st Edition
0470683708, 9780470683705
