2. Complete a sinking fund schedule for the following situation. A savings account of with 1.5% compounded semiannually will be used to reach $1500. Payments will be made at the end of every 6 months for 3 years. Additionally, find the total interest paid. [ /6 ]

Payment Number Payment Amount Interest Amount Principal Amount Balance

5. A project costing $1000 today is expected to bring in $500 each year for the next 5 years. If money can earn 1.2% compounded monthly, what is the net present value of this project? [ /4 ]

6. Paying $5000 for extra advertising expenses today is estimated to increase sales by $3000, $1500, $1000, and $500 over the next 4 years respectively. What is the net present value for the advertising if money can earn 1.3% compounded annually? [ /4 ]