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MBI issues $10M, 20-year bonds. The bonds were issued with a contract rate of 5% and a market rate of 6%. As part of the
- MBI issues $10M, 20-year bonds. The bonds were issued with a contract rate of 5% and a market rate of 6%. As part of the Bond agreement, MBI is committed to making annual sinking fund deposits. The deposits are to be made at the end of each year and will provide a yield of 4%.
Determine the annual deposits that MBI must make to accumulate the $10M fund.
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Principles Of Financial Accounting (Chapters 1-17)
Authors: John Wild
25th Edition
1260780147, 9781260780147
