If the bond has a sinking fund that requires the firm to set aside annually with a trustee sufficient
If
the bond has a sinking fund that requires the firm to set aside
annually with a trustee sufficient funds to retire the entire issue at
maturity, how much must the firm remit each year for 10 years if the
funds earn 8 percent annually and there is $100 million outstanding?
I get an answer of $6,902,949 is that correct? if not what is the answer?
I get an answer of $6,902,949 is that correct? if not what is the answer?
No comments:
Post a Comment