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Sunland Company issued $1,200,000,13-vear bonds. It agreed to make annual deposits of $73,500 to a fund (called a sinking fund). which will be used to
Sunland Company issued $1,200,000,13-vear bonds. It agreed to make annual deposits of $73,500 to a fund (called a sinking fund). which will be used to pay off the principal amount of the bond at the end of 13 years. The deposits are made at the end of each year into an account paying 4% annual interest. Click here to view the factor table 1. Table 2 Table 3 Tabie 4 What amount will be in the sinking fund at the end of 13 years? (for calculation pumposes, use 5 decimal ploces as displayed in the foctor table provided, eg 5.24571. Round answer to 2 disellind places, es. 25.25. Amount in the sinking fund
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