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(I ALWAYS UPVOTE) please help with study guide. briefly explain and abow each step please. A city has financed a local project with a $500,000

(I ALWAYS UPVOTE) please help with study guide. briefly explain and abow each step please. image text in transcribed
A city has financed a local project with a $500,000 bond issue with a coupon rate of 3% compounded semi-annually. The bonds are redeemable in 12 years. At the same time, a sinking fund earning interest at 4.2% compounded semi-annually is established to accumulate the full $500,000 when the bonds mature in 12 years. 1. Find the periodic expense of the debt. 2. Find the book value of the debt after 7 years. 3. Construct the sinking fund schedule for the 9th year

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