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A loan of $21,200.00 at 3.50% compounded semi-annually is to be repaid with payments at...

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Accounting

A loan of $21,200.00 at 3.50% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 4 years.
a. Calculate the size of the periodic payment.
$2,566.43
$3,084.10
$2,862.91
$3,244.25
b. Calculate the total interest paid.
$1,703.28
$22,903.28
-$1,159.63
$4,566.19

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