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A loan of $30,200 at 4.48% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled
A loan of $30,200 at 4.48% 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.
Round to the nearest cent
b. Calculate the total interest paid.
Round to the nearest cent
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