For each of the sinking funds calculate (rounded to the nearest dollar):
a. The size of the periodic sinking fund payment.
b. The balance in the sinking fund at the time indicated in the last column. (Round the sinking fund payment to the nearest dollar before calculating the balance.)

Transcribed Image Text:

End-of-term amount of sinking fund ($ millions) Payment at beginning or end of interval? Calculate balance at the end of interval Sinking fund ratecompounding Payment and interval 6 months Term (years) of return (%) 12 10 End 12