Question
Company A is committed to make sinking fund deposits of $500,000 each year for 10 years. The company estimates that the yield on the deposits
Company A is committed to make sinking fund deposits of $500,000 each year for 10 years. The company estimates that the yield on the deposits would be 6%. If the deposits are made on the first day of each year, what will be the total value in the fund account at the end of 10 years?
- A. 6,085,800
- B. 6,485,800
- C. 6,285,800
- D. 6,985,800
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Principles Of External Auditing
Authors: Brenda Porter, David Hatherly, Jon Simon
3rd Edition
0470018259, 9780470018255
