To pay off 60000000 worth of new construction bonds when


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 three months from now. If the interest rate for the sinking fund is 8?% compounded? quarterly, how much will each deposit? be?

The deposit amount will be ?$ ______ per quarter.

Request for Solution File

Ask an Expert for Answer!!
Business Economics: To pay off 60000000 worth of new construction bonds when
Reference No:- TGS01633740

Expected delivery within 24 Hours