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Novak Corporation, having recently issued a $ 20,104,500, 15-year bond issue, is committed to make annual sinking fund deposits of $ 622,000. The deposits are

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Novak Corporation, having recently issued a $ 20,104,500, 15-year bond issue, is committed to make annual sinking fund deposits of $ 622,000. 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 $ Will funds be sufficient

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