Laurin and Company want to build up a fund of $75 000 to replace the company's air conditioning system by making payments of $2000 at the beginning of every six months into a sinking fund earning 11% compounded semi-annually. Construct a partial sinking fund schedule showing details of the first three payments, the last three payments, and totals.

Answer rating: 100% (QA)

Year Payment Installment Amount Cumulative Interest at 11 for six months Cumulative Principa... View the full answer