Martin Company issued $900000 10-year bonds and agreed to make annual sinking fund deposits of $72000. The deposits are made at the end of each year to a fund paying 5% interest compounded annually. What amount will be in the sinking fund at the end of the 10 years?

Sinking Fund Deposits

Money regularly set aside by a company to repay a debt or replace an asset in the future.

Compounded Annually

An investment or loan interest calculation method where interest is added to the principal sum at the end of each year, with future interest then earned on the new total.