Question
A loan of $31,700.00 at 4.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled
A loan of $31,700.00 at 4.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 4 years.
a.Calculate the size of the periodic payment.
$3,883.74
$4,708.33
$4,327.36
$4,898.03
b.Calculate the total interest paid.
$2,918.88
$34,618.88
-$1,408.48
$7,246.24
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Calculus Early Transcendentals
Authors: James Stewart
7th edition
538497904, 978-0538497909
