To pay off 41000000 worth of new construction bonds when, Ask an Expert

Economics

To pay off $41,000,000 worth of new construction bonds when they come due in 20 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly. If the interest rate for the sinking fund is 8% compounded quarterly, how much will each deposit be per quarter?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720854

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