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Suppose your company wishes to set up a sinking fund in order to save enough money in an account so that it can repay bondholders

Suppose your company wishes to set up a sinking fund in order to save enough money in an account so that it can repay bondholders at some point in the future. Let's assume that your company has issued $1,000,000 in bonds in 10 years and the interest rate you can earn on your savings account is8% How much must the company put aside today each year so that at the end of 10 years it will have $1,000,000 in the account. (2) using the above, if the company needs to save $1,000,000 but could earn 12% on your money in the savings account. How will that affect your answer. (3) Still using the above, exactly how much would you need to set aside each year to have $1,000,000 in the savings account if you were earning 12% on your money over 10 years?

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