(Solved): Current Attempt in Progress Bonita Industries issued $700,000,8-year bonds. It agreed to make annual ...

Current Attempt in Progress Bonita Industries issued

-year bonds. It agreed to make annual deposits of

to a fund (called a sinking fund), which will be used to pay off the principal amount of the bond at the end of 8 years. The deposits are made at the end of each year into an account paying

annual interest. Click here to view the factor table 1. Table 2 Table 3 Table 4 What amount will be in the sinking fund at the end of 8 years? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 5.24571. Round answer to 2 decimal places, e.g. 25.25.) Amount in the sinking fund

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