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Ivanhoe Company issued $ 1 , 0 0 0 , 0 0 0 , 1 1 - year bonds. It agreed to make annual deposits
Ivanhoe Company issued $year bonds. It agreed to make annual deposits of $ to a fund called a sinking fund which will be used to pay off the principal amount of the bond at the end of years. The deposits are made at the end of each year into an account paying annual interest.
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For calculation purposes, use decimal places as displayed in the factor table provided.
What amount will be in the sinking fund at the end of years? Round answer to decimal places, eg
Amount in the sinking fund $
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