A loan of $35,550.00 at 7.50% 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.

$4,003.47

$5,179.13

$4,328.62

$4,726.91

b. Calculate the total interest paid.

$7,736.20

$43,286.20

$3,407.58

$12,064.82