Question
A loan of $27,650.00 at 7.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled
A loan of $27,650.00 at 7.00% 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.
$3,071.69
$3,936.74
$3,324.67
$3,634.48
b. Calculate the total interest paid.
$5,596.70
$33,246.70
$2,272.03
$8,921.37
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Handbook Of The Fundamentals Of Financial Decision Making
Authors: Leonard C MacLean, William T Ziemba
1st Edition
9814417343, 978-9814417341
