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Economics

To pay off $60,000,000 worth of new construction bonds when they come due in 19 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting 3 months from now. If the interest rate for the sinking fund is 9% compounded quarterly, how much will each deposit be?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91723448

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