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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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