A loan of $39,800.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years.

a. Calculate the size of the periodic payment.

$4,183.22

$5,154.28

$4,547.50

$4,993.18

b. Calculate the total interest paid.

$5,675.00

$45,475.00

$1,127.50

$10,222.50