The beautiful "pumpkin" city of Waterford wanted to raise funds for a community center expansion, so it issued a $3,000,000 bond that pays a 7.50% monthly coupon rate for 19 years. They set up a sinking fund to repay the debt at the end of 19 years and made deposits at the end of every month into the fund. The sinking fund was earning 9.00% compounded monthly.

a. Calculate the size of the periodic interest payments of the bond.

Round to the nearest cent

b. Calculate the size of the periodic deposits into the sinking fund.

Round up to the next cent

c. Calculate the periodic cost of the debt.

Round to the nearest cent

d. Calculate the book value of the debt after 4 years.

Round to the nearest cent