1. A company borrowed $ 60,000 for renovation. The company plans to set up a sinking fund that will pay back the loan at the end of 5 years. Assuming a rate of 12% compounded semiannually, find the Sinking Fund of the ordinary annuity.

B. To fund his sons higher education, Abdullah decided to invest $ 3,000 quarterly for 6 years in an ordinary annuity at 16%. What is the total cash value of the annuity at end of year 6?

Question 4: (20 points) A- A company borrowed $ 60,000 for renovation. The company plans to set up a sinking fund that will pay back the loan at the end of 5 years. Assuming a rate of 12% compounded semiannually, find the Sinking Fund of the ordinary annuity. (7 points) B- To fund his son's higher education, Abdullah decided to invest $ 3,000 quarterly for 6 years in an ordinary annuity at 16%. What is the total cash value of the annuity at end of year 6? (7 points)