The Cowichan Regional District borrowed $500,000 through the Provincial Finance Authority to purchase fire-fighting equipment. At the

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The Cowichan Regional District borrowed $500,000 through the Provincial Finance Authority to purchase fire-fighting equipment. At the end of every six months, the regional district must make a sinking fund payment of a size calculated to accumulate $500,000 after seven years to repay the principal amount of the debt. The sinking fund earns 7% compounded semiannually. Construct a partial sinking fund schedule showing details of the first two and the last two payments. Round the sinking fund payments and periodic interest earnings to the nearest dollar.
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