Luxury Yacht company is preparing to buy a new yacht estimated to cost $750000 by making equal payments at the end of every three months into a sinking fund for six years. Interest earned by the fund is 7.5% compounded quarterly. (20 marks)

(a) What is the size of the quarterly payment made to the sinking fund?

(b) How much of the maturity value of the fund will be interesting?

(c) What is the accumulated value of the fund after two years?

(d) How much interest will the fund earn in the 15th payment interval? (20 marks)