Listen A city has financed a local project with a $300,000 bond issue with a coupon rate of 4% compounded semi-annually. The bonds are redeemable in 11 years. At the same time, a sinking fund earning interest at 4.2% compounded semi-annually is established to accumulate the full $300,000 when the bonds mature in 11 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. Paragraph BIU - 1. Find the periodic expense of the debt. PMT Setting