A loan of $32,350.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 3 years.
1. Calculate the size of the periodic payment.
a. $5,094.98
b. $6,373.52
c. $5,873.14
d. $6,963.24
2. Calculate the total interest paid.
a. $2,888.84
b. $35,238.84m
c. $2,984.30
d. $8,761.98