A bond issue is approved for building a regular payments of $96,000 every quarter into a sinking fund paying 5.4% compo quarterly. If the cost of the bond is $5,000,000, will the city be able to pay off this in 10 years with the proceeds from this sinking fund?
A bond issue is approved for building a regular payments of $96,000 every quarter into a sinking fund paying 5.4% compo quarterly. If the cost of the bond is $5,000,000, will the city be able to pay off this in 10 years with the proceeds from this sinking fund?
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18. A bond issue is approved for building a marina in a lakeside city. The city is required to make
regular payments of $96,000 every quarter into a sinking fund paying 5.4% compounded
quarterly. If the cost of the bond is $5,000,000, will the city be able to pay off this marina
in 10 years with the proceeds from this sinking fund?
of
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