A loan of $10,000 is to be repaid by 20 equal quarterly payments at a nominal interest rate of 6% per year compounded semiannually. The first payment is at the end of the first quarter. What is the size of each payment? Calculate the payment by

(1) finding the equivalent interest rate convertible at the same frequency as payments.

(2) using the formula (Fusion method). (Answer: $581.82)

mathematical interest theory/financial math