A city issues $100,000 worth of bonds paying interest at j₂ = 7%.They make semi-annual deposits in a sinking fund to pay for the redemption of the bonds.The city decides to take some risk in their investing,so it turns out that the sinking fund earns j₂ = 8%.The semi-annual cost of the debt is $6,858.18.What is the book value of the debt at the end of 2 years? (Answer to the nearest dollar)

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The Answer of A city issues $100,000 worth of bonds paying interest at j₂ = 7%.They make semi-annual deposits in a sinking fund to pay for the redemption of the bonds.The city decides to take some risk in their investing,so it turns out that the sinking fund earns j₂ = 8%.The semi-annual cost of the debt is $6,858.18.What is the book value of the debt at the end of 2 years? (Answer to the nearest dollar)

A City Issues $100,000 Worth of Bonds Paying Interest at J2

A City Issues $100,000 Worth of Bonds Paying Interest at J₂