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The City of Toronto has an outstanding $5 million face value bond carrying a 7% coupon. It makes payments of $436,150 to its sinking fund
The City of Toronto has an outstanding $5 million face value bond carrying a 7% coupon. It makes payments of $436,150 to its sinking fund every six months. Calculate the annual cost of the bond debt. (Hint: Use the formulas discussed on Day 7)
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The Operational Auditing Handbook Auditing Business And IT Processes
Authors: Andrew Chambers, Graham Rand
2nd Edition
0470744766, 978-0470744765
