Sunland Corporation, having recently issued a $20,120,000, 15-year bond issue, is committed to make annual sinking fund deposits of $606,200. The deposits are made on the last day of each year and yield a return of 10%. Click here to view factor tables Will the fund at the end of 15 years be sufficient to retire the bonds?

Future value of an ordinary annuity		$enter a dollar amount rounded to 0 decimal places
Will funds be sufficient?		select between Yes and No YesNo

Sunland Corporation, having recently issued a $20,120,000, 15-year bond issue, is committed to make annual sinking fund deposits of $606,200. The deposits are made on the last day of each year and yield a return of 10%. Click here to view factor tables Determine the amount of deficiency. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Deficiency

$enter a dollar amount rounded to 0 decimal places

Future Value of an Ordinary Annuity of 1

FVF-OAn,i=(1+i)n1i
(n) Periods	2%	2%	3%	4%	5%	6%
1	1.00000	1.00000	1.00000	1.00000	1.00000	1.00000
2	2.02000	2.02500	2.03000	2.04000	2.05000	2.06000
3	3.06040	3.07563	3.09090	3.12160	3.15250	3.18360
4	4.12161	4.15252	4.18363	4.24646	4.31013	4.37462
5	5.20404	5.25633	5.30914	5.41632	5.52563	5.63709
6	6.30812	6.38774	6.46841	6.63298	6.80191	6.97532
7	7.43428	7.54743	7.66246	7.89829	8.14201	8.39384
8	8.58297	8.73612	8.89234	9.21423	9.54911	9.89747
9	9.75463	9.95452	10.15911	10.58280	11.02656	11.49132
10	10.94972	11.20338	11.46338	12.00611	12.57789	13.18079
11	12.16872	12.48347	12.80780	13.48635	14.20679	14.97164
12	13.41209	13.79555	14.19203	15.02581	15.91713	16.86994
13	14.68033	15.14044	15.61779	16.62684	17.71298	18.88214
14	15.97394	16.51895	17.08632	18.29191	19.59863	21.01507
15	17.29342	17.93193	18.59891	20.02359	21.57856	23.27597
16	18.63929	19.38022	20.15688	21.82453	23.65749	25.67253
17	20.01207	20.86473	21.76159	23.69751	25.84037	28.21288
18	21.41231	22.38635	23.41444	25.64541	28.13238	30.90565
19	22.84056	23.94601	25.11687	27.67123	30.53900	33.75999
20	24.29737	25.54466	26.87037	29.77808	33.06595	36.78559
21	25.78332	27.18327	28.67649	31.96920	35.71925	39.99273
22	27.29898	28.86286	30.53678	34.24797	38.50521	43.39229
23	28.84496	30.58443	32.45288	36.61789	41.43048	46.99583
24	30.42186	32.34904	34.42647	39.08260	44.50200	50.81558
25	32.03030	34.15776	36.45926	41.64591	47.72710	54.86451
26	33.67091	36.01171	38.55304	44.31174	51.11345	59.15638
27	35.34432	37.91200	40.70963	47.08421	54.66913	63.70577
28	37.05121	39.85980	42.93092	49.96758	58.40258	68.52811
29	38.79223	41.85630	45.21885	52.96629	62.32271	73.63980
30	40.56808	43.90270	47.57542	56.08494	66.43885	79.05819
31	42.37944	46.00027	50.00268	59.32834	70.76079	84.80168
32	44.22703	48.15028	52.50276	62.70147	75.29883	90.88978
33	46.11157	50.35403	55.07784	66.20953	80.06377	97.34316
34	48.03380	52.61289	57.73018	69.85791	85.06696	104.18376
35	49.99448	54.92821	60.46208	73.65222	90.32031	111.43478
36	51.99437	57.30141	63.27594	77.59831	95.83632	119.12087
37	54.03425	59.73395	66.17422	81.70225	101.62814	127.26812
38	56.11494	62.22730	69.15945	85.97034	107.70955	135.90421
39	58.23724	64.78298	72.23423	90.40915	114.09502	145.05846
40	60.40198	67.40255	75.40126	95.02552	120.79977	154.76197

8%	9%	10%	11%	12%	15%	(n) Periods
1.00000	1.00000	1.00000	1.00000	1.00000	1.00000	1
2.08000	2.09000	2.10000	2.11000	2.12000	2.15000	2
3.24640	3.27810	3.31000	3.34210	3.37440	3.47250	3
4.50611	4.57313	4.64100	4.70973	4.77933	4.99338	4
5.86660	5.98471	6.10510	6.22780	6.35285	6.74238	5
7.33592	7.52334	7.71561	7.91286	8.11519	8.75374	6
8.92280	9.20044	9.48717	9.78327	10.08901	11.06680	7
10.63663	11.02847	11.43589	11.85943	12.29969	13.72682	8
12.48756	13.02104	13.57948	14.16397	14.77566	16.78584	9
14.48656	15.19293	15.93743	16.72201	17.54874	20.30372	10
16.64549	17.56029	18.53117	19.56143	20.65458	24.34928	11
18.97713	20.14072	21.38428	22.71319	24.13313	29.00167	12
21.49530	22.95339	24.52271	26.21164	28.02911	34.35192	13
24.21492	26.01919	27.97498	30.09492	32.39260	40.50471	14
27.15211	29.36092	31.77248	34.40536	37.27972	47.58041	15
30.32428	33.00340	35.94973	39.18995	42.75328	55.71747	16
33.75023	36.97371	40.54470	44.50084	48.88367	65.07509	17
37.45024	41.30134	45.59917	50.39593	55.74972	75.83636	18
41.44626	46.01846	51.15909	56.93949	63.43968	88.21181	19
45.76196	51.16012	57.27500	64.20283	72.05244	102.44358	20
50.42292	56.76453	64.00250	72.26514	81.69874	118.81012	21
55.45676	62.87334	71.40275	81.21431	92.50258	137.63164	22
60.89330	69.53194	79.54302	91.14788	104.60289	159.27638	23
66.76476	76.78981	88.49733	102.17415	118.15524	184.16784	24
73.10594	84.70090	98.34706	114.41331	133.33387	212.79302	25
79.95442	93.32398	109.18177	127.99877	150.33393	245.71197	26
87.35077	102.72314	121.09994	143.07864	169.37401	283.56877	27
95.33883	112.96822	134.20994	159.81729	190.69889	327.10408	28
103.96594	124.13536	148.63093	178.39719	214.58275	377.16969	29
113.28321	136.30754	164.49402	199.02088	241.33268	434.74515	30
123.34587	149.57522	181.94343	221.91317	271.29261	500.95692	31
134.21354	164.03699	201.13777	247.32362	304.84772	577.10046	32
145.95062	179.80032	222.25154	275.52922	342.42945	644.66553	33
158.62667	196.98234	245.47670	306.83744	384.52098	765.36535	34
172.31680	215.71076	271.02437	341.58955	431.66350	881.17016	35
187.10215	236.12472	299.12681	380.16441	484.46312	1014.34568	36
203.07032	258.37595	330.03949	422.98249	543.59869	1167.49753	37
220.31595	282.62978	364.04343	470.51056	609.83053	1343.62216	38
238.94122	309.06646	401.44778	523.26673	684.01020	1546.16549	39
259.05652	337.88245	442.59256	581.82607	767.09142	1779.09031	40