Magnolia Appliances sold bonds for $300,000 that were redeemable in six years. It established a sinking fund that was earning 7.3% compounded semi-annually to pay back the principal of the bonds on maturity. Deposits into the fund were made at the beginning of every six months.

a. Calculate the size of the payments.

A full solution for the payment size should be shown. Submit your solution.

Round up to the next cent.

b. Construct a partial sinking fund schedule showing the details for the first two and last two payments and the totals of the schedule.

No work needs to be shown. Enter the values directly into the schedule.

Round up to the next cent.

Payment Period	Payment	Interest Earned	Increase in the Fund	Fund Balance	Book Value
0				$0.00	$300,000.00
1
2
: :	: :	: :	: :	: :	: :
: :	: :	: :	: :	: :	: :
		_
Total