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To redeem a $10 000.00 promissory note due in 12 years,SEJE has set up a sinking fund earning 8% compounded semi-annually.Equal deposits are made at the beginning of every six months.What is the size of the semi-annual deposits?
Securities and Exchange Commission
The U.S. federal agency responsible for regulating the securities industry and ensuring public companies adhere to disclosure laws.
Proprietorship
A business that is owned and run by one individual, where there is no legal distinction between the owner and the business entity.
Legal Entity
An organization that possesses legal rights and responsibilities, including the ability to enter contracts, sue, and be sued; can be a company, non-profit, or government organization.
Governmental Agency
An organization established by a government to administer specific legislation and carry out public policies.
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