ency. (Round factor values to
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 20P
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Hw.142.
![Marigold Corporation, having recently issued a $20,062,200, 15-year bond issue, is committed to make annual sinking fund
deposits of $620,000. 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.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0a2d409e-13b2-4200-877b-14ad891c3a61%2F7c12eec8-06f3-4fb2-8fb1-ea92351b7b32%2Fq7be3l_processed.png&w=3840&q=75)
Transcribed Image Text:Marigold Corporation, having recently issued a $20,062,200, 15-year bond issue, is committed to make annual sinking fund
deposits of $620,000. 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.)
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