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pls show solution, and draw cash flow diagram, thanks! To pay off $58000000 worth of new construction bonds when they come due in 29 years,
pls show solution, and draw cash flow diagram, thanks!
"To pay off $58000000 worth of new construction bonds when they come due in 29 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting three months from now. If the interest rate for the sinking fund is 8.1% compounded quarterly, how much will each deposit be?" A) 127218.76 B 347627.74 C) 93986.18 D 150474.25 E 322897.74Step by Step Solution
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