question archive A company issued 100 bonds of P1,000 face value each, redeemable at par at the end of 15 years to accumulate the funds required for redemption
A company issued 100 bonds of P1,000 face value each, redeemable at par at the end of 15 years to accumulate the funds required for redemption
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A company issued 100 bonds of P1,000 face value each, redeemable at par at the end of 15 years to accumulate the funds required for redemption. The firm established a sinking fund consisting of annual deposits, the interest rate of the fund being 4%. What was the principal in the fund at the end of 12th year?
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