Strikler inc. Has issued 10 million 10 year bond. The bond requires strikler to establish a sinking fund and make 10 equal end of the year deposits into the fund. These deposits will earn 8% annually and the fund should have enough accumulated in it at the end of 10 years to retire the bonds. What's are the annual sinking fund payment

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Strikler inc. Has issued 10 million 10 year bond. The bond requires strikler to establish a sinking fund and make 10 equal end of the year deposits into the fund. These deposits will earn 8% annually and the fund should have enough accumulated in it at the end of 10 years to retire the bonds. What's are the annual sinking fund payments

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