Retire bonds outstanding, Dubois Inc. wishes to accumulate

Retire bonds outstanding

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Reference no: EM131020673

Dubois Inc. wishes to accumulate $1,393,500 by December 31, 2024, to retire bonds outstanding. The company deposits $214,800 on December 31, 2014, which will earn interest at 10% compounded quarterly, to help in the retirement of this debt. In addition, the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that $1,393,500 is available at the end of 2024. (The quarterly deposits will also earn at a rate of 10%, compounded quarterly.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Reference no: EM131020673

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