som ne A woman is selling some land, and she will be paid a lump sum of 590,000 in 11 years. Until then, the buyer pays 7% simple interest quarterly (a) Find the amount of each quarterly interest payment (b) The buyer sets up a sinking fund so that enough money will be present to pay off the $90,000. The buyer wants to make semiannual payments into the sinking fund the account pays 9% compounded semiannualy Find the amount of each payment into the fund