Question
A loan of $35,300.00 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 $35,300.00 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 by Jack.
A. Calculate the size of the periodic payment.
$3,921.55
$5,025.93
$4,244.52
$4,640.04
B. Calculate the total interest paid.
$7,145.20
$42,445.20
$2,900.68
$11,389.72
Jacks boss William made periodic deposits into a savings account at the end of every month for 4 years. The investments were earning 6.00% compounded quarterly and grew to $13,000.00 at the end of 4 years.
C. Calculate the size of the month-end deposits.
$246.20
$240.45
$186.87
$234.94
D. How long will it take for the $13,000.00 to accumulate to $32,145.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term?
5 years and 7 months
8 years and 7 months
4 years and 7 months
4 years and 10 months
please answer them correctly take your time but it should be correct
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