Hein Engineering expects to expand its plant facilities in six years at an estimated cost of $75

Question:

Hein Engineering expects to expand its plant facilities in six years at an estimated cost of $75 000. To provide for the expansion, a sinking fund has been established into which equal payments are made at the end of every three months. Interest is 5% compounded quarterly.
(a) What is the size of the quarterly payments?
(b) How much of the value will be payments?
(c) How much interest will the fund contain?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...