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A loan of $ 2 4 , 8 0 0 . 0 0 at 5 . 0 0 % compounded semi - annually is to

A loan of $24,800.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years.
a. Calculate the size of the periodic payment.
$2,606.63
$3,211.71
$2,833.62
$3,111.33
b. Calculate the total interest paid.
$3,536.20
$28,336.20
$702.58
$6,369.82

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