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Querist : Anonymous (Querist)
25 November 2011 ab ltd crated a sinking fund to redeem its prefernce capital of rs 5 lakh issued on 6 april 2004 and will mature on 5 april 2015. the first annual payment was made on 6 april 1994. the company will make equal annual payment and expects that the fund will earn 12% per year , how much will be the amount of sinking fund payments
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
26 November 2011 The Calculation will be held as follows;
A(CVFAn,i)1+I)=500000
A(CVFA12,.012)(1.12)=500000
A(24.133)(1.12)=500000
A(27.02896)=500000
A=500000/27.0289618
A=18496.68
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