Question: Please do it manually, not with excel. Thankyou. 10. On August 1, 2010, Mrs. Chan borrows $20 000 for 10 years. Interest at 11 %

Please do it manually, not with excel. Thankyou. 10. On August

Please do it manually, not with excel. Thankyou.

10. On August 1, 2010, Mrs. Chan borrows $20 000 for 10 years. Interest at 11 % compounded semi- annually must be paid as it falls due. The principal is replaced by means of level deposit on February 1 and August 1 in years 2011 to 2020 (inclusive) into a sinking fund earning i(1) = 7% in 2011 through December 31, 2015 and ;(1) = 6% January 1, 2016 through 2020. a) Calculate the semi-annual expenses of the loan. b) How much is in the sinking fund just after the August 1, 2019, deposit

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