A loan of $32,350.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 3 years.

a. Calculate the size of the periodic payment.

$5,094.98

$6,373.52

$5,873.14

$6,963.24

b. Calculate the total interest paid.

$2,888.84

$35,238.84m

-$2,984.30

$8,761.98