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Compare the total cost of a $60000 loan at an annual rate of 5.05% if payments were made bi-weekly as opposed to monthly. The loan

Compare the total cost of a $60000 loan at an annual rate of 5.05% if payments were made bi-weekly as opposed to monthly. The loan was to be paid back over 10 years and was compounded semi-annually. Use your TVM Finance Solver and answer the following:

a) Bi-weekly Payment and total cost after 10 years

b) Monthly Payment and total cost after 10 years

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