A loan of $36,550.00 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. Round to the nearest cent. b. Calculate the total interest paid. Round to the nearest cent.

/in /by

A loan of $36,550.00 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. Round to the nearest
cent.

b. Calculate the total interest paid. Round to the nearest cent.

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