Jones Associates borrowed $40,000. The company plans to set up a sinking fund that will pay back the loan at the end of 8 years. Assuming a rate of 12 % compounded semiannually, the amount to be paid into the fund each period is: (Use the tables in the textbook or handbook) $15,580.00 O $1,718.52 O $17,185.20 O $1.560.00