From Kaplan:
Jane Walker has set a 7% yield as the goal for the bond portion of her portfolio. To achieve this goal, she has purchased a 7%, 15-year corporate bond at a discount price of 93.50. What amount of reinvestment income will she need to earn over this 15-year period to achieve a compound return of 7% on a semiannual basis?
My Kaplan QuickSheet Fixed Income section doesn’t give a formula for such a problem. What does the $2,624 represent?
The future value of the initial investment, should it achieve a BEY of 7% for 15 years.
30 = N, I/Y = 3.5, PV = -935, PMT = 35, FV = ? My calculator computes FV = 817.55. 
The TVM buttons on your calculator are cash flow buttons. I’d like you to describe, in words, the cash flows that your TVM entries represent. I’ll get you started:
Over to you.
I see. Now I have PMT = 0 and therefore FV = 2,624.
The 3.5% interest earned every 6 months isn’t distributed, i.e. a PMT = $35 every 6 months. The $35 is compounded back into the growth of the original $935, correct?
Exactly!
You’re getting good at this stuff.
Thank you; slowly but surely.