A loan of $35,250.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 4 years.

a. Calculate the size of the periodic payment.

$4,422.36

$5,453.94

$4,916.22

$5,551.71

b. Calculate the total interest paid.

$4,079.76

$39,329.76

-$836.46

$8,995.98