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Ozona Minerals issued bonds that mature in 10 years. As is typical for bonds, Orona Minerals mast pay interest only on the $50 milion face
Ozona Minerals issued bonds that mature in 10 years. As is typical for bonds, Orona Minerals mast pay interest only on the $50 milion face value. A s part of the bond indentute. Ozona Minerals mast make annual payments to a sinking fund, which is a pool of money set aside to help repay the bond issue. The sinking fiend must be equal to soh of the face value of the bonds in 10 years cot maturity). If Orona Minerals can invect at 5% what amount must the company add to the sunking fund each year to comply with the sinking fund requirement? Note: Round your answer to the nearest whole doliar
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