A sinking fund amounting to $115 000.00 is to be created by making payments at the beginning of every six months for 6 years.Interest earned by the fund is 6.5% compounded semi-annually.Determine the size of the semi-annual payments and prepare a sinking fund schedule showing totals.

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The Answer of A sinking fund amounting to $115 000.00 is to be created by making payments at the beginning of every six months for 6 years.Interest earned by the fund is 6.5% compounded semi-annually.Determine the size of the semi-annual payments and prepare a sinking fund schedule showing totals.

A Sinking Fund Amounting to $115 000