HY Industries Ltd. plans to replace a warehouse in

eight

years at an anticipated cost of

$60,000.

To pay for the replacement, a sinking fund has been established into which equal payments are made at the end of every

6 months.

Interest is

9%

semi-annually.

(a) What is the size of the periodic payment?

(b) What is the accumulated balance just after the

12th

payment?(a) The periodic payment is

$nothing.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

(b) The balance after the

12th

payment is

$nothing.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)