A loan of $15,000 with interest at 9% compounded semi-annually is repaid in 7 years by equal payments made at the end of each 3 months.

(a) What is the size of the periodic payment?

(b) Construct an amortization schedule showing the details of the last three payments.

(c) What is the total paid and the total interest?

(a) The size of the periodic payment is $___.

(b) Complete the table below for the last three payments in the schedule, starting with the third-to-last payment.

Payment Number	Amount Paid	Interest Paid	Principal Repaid	Outstanding Principal Balance
enter your response here	$enter your response here	$enter your response here	$enter your response here	$enter your response here

enter your response here

$enter your response here

$enter your response here

$enter your response here

$enter your response here

enter your response here

$enter your response here

$enter your response here

$enter your response here

$0

(c) Total Paid = $___

Interest Paid = $___