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A loan of 20,000 is repaid with monthly payments for 5 years using the sinking fund method. The loan charges 10% interest compounded twice a

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A loan of 20,000 is repaid with monthly payments for 5 years using the sinking fund method. The loan charges 10% interest compounded twice a year. The sinking fund earns an annual effective interest rate of 8%. Calculate: the interest payment that is paid monthly to service the loan and the sinking fund deposit pindmonthly, the sinking fund inn . the amount in the sinking fund immediately after the 30th payment

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