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please round the number correctly. Thank you A $25,000.00 loan for a home improvement is to be repaid by equal semi-annual payments over 5 years
please round the number correctly. Thank you
A $25,000.00 loan for a home improvement is to be repaid by equal semi-annual payments over 5 years at 7.3% compounded semi-annually.
a) Calculate the semi-annual payment that pay off the loan in 5 years ( rounded up to the cent) .
b) What amount of principal will be repaid with the 4th payment?
c) What will be the interest portion of the 6th payment?
d) How much interest will be paid in the third year?
e) Calculate the final, concluding payment.
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