Question $4$

ABC Inc. borrowed $$570,000$ at $9\mathrm{.}14\%$ compounded semiannually. The payments are to be

made monthly over seven years.

a$)$ What is the size of the monthly payment?

b$)$ How much of the $15$th payment is interest?

c$)$ What is the principal repaid in the $38$th payment period?