For the Sinking Funds, Use Table 12-1 from Your Text

For the sinking funds, use Table 12-1 from your text to calculate the amount of the periodic payments needed to amount to the financial objective (future value of the annuity), rounding to the nearest cent: $\begin{array}{llllll}\text { Sinking Fund } & \text { Payment } & \text { Time } & \text { Nominal } & \text { Interest } & \text { Future Value } \\\underline { \text { Payment }} &\underline { \text { Frequency }} & \underline{\text { Period }} & \underline{\text { Rate }} &\underline {\text { Compounded }}&\underline {\text { (Objective })}\\& \text { every } 6 \text { months } & 15 \text { years } & 8 \% & \text { semiannually } & \$ 600\end{array}$