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What is the amount of the six annual deposits

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1. ABC Co. borrowed $750,000 on January 1, 2010 to purchase new machines. The interest rate of 8% is compounded semiannually to be repaid January 1, 2020. To repay this ABC will start making six equal annual deposits into fund that earns 6% annum on January 1, 2014. What is the amount of the six annual deposits that ABC needs to make?

2. Determine the market price of a $2,000,000, nine-year, 9% (pays interest semiannually) bond issue sold to yield an effective interest rate of 10%.

Reference no: EM131559877

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