Solve by using the sinking fund or amortization formula. A manufacturing company has determined that it will need $600,000 in 7 years for a new roof on its southeastern regional warehouse. A sinking fund is established for the roof at 3.6% compounded semiannually. What equal payments (in $) are required every 6 months to accumulate the needed funds for the roof? (Round your answer to the nearest cent.) $

Find the amount of money owed at the end of 5 years if $40,000 is borrowed at 5% per year compounded weekly and no payments are made on the loan. (Simplify your answer completely. Assume there are 52 weeks in a year. Round your answer to the nearest cent.) $

A local Dunkin’ Donuts franchise must buy a new piece of equipment in 5 years that will cost $80,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 8% interest? (Do not round intermediate calculations. Round your answer to the nearest cent.) Quarterly deposit $ _________

You would like to have $25,000 set aside for your child’s college fund in 12 years by making regular,semiannual deposits in an annuity that pays 6% compounded quarterly. How much should you deposit at the end of every four months? Round to the nearest cent.