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You have a student loan with a 12% APR, compounded monthly, and an $18,000 balance. You plan to pay off the entire balance by making

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You have a student loan with a 12% APR, compounded monthly, and an $18,000 balance. You plan to pay off the entire balance by making semi-annual payments for 15 years. a. What is the effective semi-annual interest rate? b. How much is each payment? a. What is the effective semi-annual interest rate? % (Round to 2 decimal places) b. How much is each payment? $ (Round to the nearest dollar)

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