Clearlake Optical has a $50,000 note that comes due in 4 years. The owners wish to create a sinking fund to pay this note. If the fund earns 1.5%compounded semiannually, how much must each semiannual...

Clearlake Optical has a $50,000 note that comes due in 4 years. The owners wish to create a sinking fund to pay this note. If the fund earns 1.5%compounded semiannually, how much must each semiannual deposit be? (Round your answer to the nearest cent.)