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3) A two-year loan of $4,500 is paid off at a nominal 6.5% annual interest compounded twice a year with payments made twice a year.

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3) A two-year loan of $4,500 is paid off at a nominal 6.5% annual interest compounded twice a year with payments made twice a year. a) What is the semi-annual payment? b) What is the total interest paid? c) Construct the amortization table for this loan d) How much interest is paid in the first year

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