A bank in Calgary issued bonds for $$450,000$ that were redeemable in $9$ years. It established a sinking fund that was earning $3\mathrm{.}5\%$ compounded semi$-$annually to retire this debt on maturity and made equal deposits at the beginning of every six months.

a$.$ What is the size of the periodic payments?

$$0\mathrm{.}00$

Round your answer up to the next cent

b$.$ Construct a partial sinking fund schedule, showing the details for the first two and last two payments, and the totals of the schedule.

For answers: Round to the nearest cent

Payment Period

Payment

Interest Earned

Increase in the Fund

Fund Balance

Book Value

$0$

$$0\mathrm{.}00$

$$450,000\mathrm{.}00$

$1$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$2$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

: :

: :

: :

: :

: :

: :

: :

: :

: :

: :

: :

: :

$0$

$\_$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$0$

$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$0$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$

Total

$$0\mathrm{.}00$

$$0\mathrm{.}00$

$$0\mathrm{.}00$