A sinking fund is established to discharge a debt of $70,000 in 25 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 3%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.) $ 7235.66 Find the future value of an ordinary annuity of $70 paid quarterly for 3 years, if the interest rate is 6%, compounded quarterly. (Round your answer to the nearest cent.) $ 4855.75 Need Help? Master It