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Question 3 incorrect Mark 0.00 out of 1.00 Prag question Applying Time Value of Money Concepts Ozona Minerals issued bonds that mature in 10 years.
Question 3 incorrect Mark 0.00 out of 1.00 Prag question Applying Time Value of Money Concepts Ozona Minerals issued bonds that mature in 10 years. As is typical for bonds, Ozona Minerals must pay interest only on the $250 million face value. As part of the bond indenture, Ozona Minerals must make annual payments to a sinking fund, which is a pool of money set aside to help repay the bond issue. The sinking fund must be equal to 50% of the face value of the bonds in 10 years (at maturity). If Ozona Minerals can investat 54, what amount must the company add to the sinking fund each year to comply with the sinking fund requirement? Note: Round your answer to the nearest whole dollar. $9.938
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