A $80,000 loan was amortized over 15 years at 3.40% compounded semi-annually. Payments were made at the end of every quarter to clear the loan.

a.What is the size of the payments at the end of every quarter?

Round to the nearest cent

b.What was the balance at the end of 4 years?

Round to the nearest cent

c.What was the interest portion of payment 30?

Round to the nearest cent

d.What was the principal portion of payment 12?

Round to the nearest cent

e.How much interest was paid in year 7?

Round to the nearest cent