A person sells some property. She will be paid a lump sum of $50,000 in 4 years. Until then, the buyer pays 996 simple interest every quarter. (a) Find the amount of each quarterly interest payment. (b) The buyer
sets up a sinking fund to make semiannual payments to pay the lump sum. The fund pays 6% percent compounded semiannually. Find the amount of each payment into the fund. (c) Complete the sinking fund table.
