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Sunland Corporation, having recently issued a $20,101,200, 10-year bond issue, is committed to make annual sinking fund deposits of $620,500. The deposits are made on
Sunland Corporation, having recently issued a $20,101,200, 10-year bond issue, is committed to make annual sinking fund deposits of $620,500. The deposits are made on the last day of each year and yield a return of 6%. Will the fund at the end of 10 years be sufficient to retire the bonds? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 2 decimal places, eg. 4,585.81.) $ Future value of an ordinary annuity Will funds be sufficient? No
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