For Question 4, compute the interest earned during the fifth payment interval. Verify your answer by checking
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In Question 4
A sinking fund amounting to $15 000 is to be created by making payments at the beginning of every six months for four years. Interest earned by the fund is 12.5% compounded semi-annually. Determine the size of the semi-annual payments and prepare a sinking fund schedule showing totals.
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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