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The City of Regina borrows $10.000.000.00 at 6% c.a. with interest payable yearly, and the full principal due and payable in 20 years. A sinking

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The City of Regina borrows $10.000.000.00 at 6% c.a. with interest payable yearly, and the full principal due and payable in 20 years. A sinking fund is set up with yearly deposits estimated to earn 5% c.a. a. Calculate the total periodic charge (TPC). b. Calculate the effective rate of interest being paid by the City of Regina

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