Company A is committed to make sinking fund deposits of $500,000 each year for 10...
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Accounting
Company A is committed to make sinking fund deposits of $500,000 each year for 10 years. The company estimates that the yield on the deposits would be 6%. If the deposits are made on the first day of each year, what will be the total value in the fund account at the end of 10 years?
A. 6,985,800
B. 6,285,800
C. 6,085,800
D. 6,485,800
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