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A loan of S14,000 with interest at 7% compounded semi-annually is repaid by payments of...

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A loan of S14,000 with interest at 7% compounded semi-annually is repaid by payments of $984.00 made at the end of every three months. (a) How many payments will be required to amortize the loan? (b) If the loan is repaid in full in 2 years, what is the payout figure? (c) If paid out, what is the total cost of the loan? (a) The number of payments required to amortize the loan is (Round up to the nearest whole number.)

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