What is a sinking fund and are these questions answered with the same process? Im having trouble recognizing the method I should use and whether despite the wording.

9. [-/0.71 Points] DETAILS BRECMBC9 12.11.022.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much should be deposited (in $) now to yield an annuity payment of $700 at the beginning of each six months, for 16 years. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It Master It 10. [-/0.71 Points] DETAILS BRECMBC9 12.III.005.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Choi Home Repair needs to accumulate $22,000 in 6 years to purchase new equipment. What sinking fund payment (in $) would they need to make at the end of each three months, at 8% interest compounded quarterly? Use Table 12-1. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It Master It 11. [-/0.71 Points] DETAILS BRECMBC9 12.III.010.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER What amortization payment (in $) would you need to make each month at 12% interest compounded monthly to pay off a loan of $17,000 in 2 years? Use Table 12-2. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It Master It