Question
Marigold Company recently signed a lease for a new office building, for a lease period of 11 years. Under the lease agreement, a security deposit
Marigold Company recently signed a lease for a new office building, for a lease period of 11 years. Under the lease agreement, a security deposit of $13,800 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 5% per year. Click here to view factor tables What amount will the company receive at the time the lease expires?
Swifty Corporation, having recently issued a $20,120,000, 15-year bond issue, is committed to make annual sinking fund deposits of $606,200. The deposits are made on the last day of each year and yield a return of 10%. Click here to view factor tables Will the fund at the end of 15 years be sufficient to retire the bonds?
Future value of an ordinary annuity | $enter a dollar amount rounded to 0 decimal places | |
Will funds be sufficient? |
Swifty Corporation, having recently issued a $20,120,000, 15-year bond issue, is committed to make annual sinking fund deposits of $606,200. The deposits are made on the last day of each year and yield a return of 10%. Click here to view factor tables Determine the amount of deficiency.
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