1. Solve by using the sinking fund or amortization formula. (Round your answer to the nearest cent.)

Sinking Fund Payment	Payment Frequency	Time Period (years)	Nominal Rate (%)	Interest Compounded	Future Value (Objective)
?	every 3 months	6	6.0	quarterly	$9,000

2. Solve by using the sinking fund or amortization formula. A manufacturing company has determined that it will need $600,000 in 6 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 3.6% compounded semiannually. What equal payments (in $) are required every 6 months to accumulate the needed funds for the roof? (Round your answer to the nearest cent.)

3. You are the vice president of finance for a manufacturer of scuba diving gear. The company is planning a major plant expansion in 5 years. You have decided to start a sinking fund to accumulate the funds necessary for the project. Your company's investments yield 8% compounded quarterly. It is estimated that $4,000,000 in today's dollars will be required; however, the inflation rate on construction costs and plant equipment is expected to average 6% per year for the next 5 years.

(a)Use the compound interest concept from Chapter 11 to determine how much (in $) will be required for the project, taking inflation into account. (Use Table 11-1. Round your answer to the nearest cent.)

(b) What sinking fund payments (in $) will be required at the end of every 3-month period to accumulate the necessary funds? (Use Table 12-1. Round your answer to the nearest cent.)