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Williams Software borrowed $2,250,000 through a bond issued to purchase new servers. It established a sinking fund to retire this debt in four years and

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Williams Software borrowed $2,250,000 through a bond issued to purchase new servers. It established a sinking fund to retire this debt in four years and made deposits into it at the beginning of every six months. The fund earned 11.5% compounded semi-annually during the period. a. Calculate the size of the periodic payments deposited into the fund. 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. For answers: Round to the nearest cent Payment Fund Balance Book Value Payment Period Interest Earned Increase in the Fund

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