Suppose the total bond issue by Space Limited Company was $150 000 000 and they set up a sinking fund on December 22, 2017 for 20 years. Sinking funds are accounts that companies establish to ensure certain amounts of money will be available at a given future date (refer to 14.5 for information about sinking funds). If the rate of interest is 3.49 percent compounded semi-annually and they make annual end of year payments into the fund:
(a) What is the required annual end-of-year payment for Space Limited Company?
(b) Complete the table below for the Space Limited Company's sinking fund for each of the payments shown:

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Total Balance Interest Payment Payment Earned on Fund in Increase Fund in Fund Numbers Amount 11 12 13