Question: 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

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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