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Marin Corporation, having recently issued a $20,103,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,700. The deposits are made on

Marin Corporation, having recently issued a $20,103,400, 15-year bond issue, is committed to make annual sinking fund deposits of $612,700. The deposits are made on the last day of each year and yield a return of 10%. 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?

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