A loan of $24,800.00 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. $2,606.63 $3,211.71 $2,833.62 $3,111.33 b. Calculate the total interest paid. $3,536.20 $28,336.20 $702.58 $6,369.82

A loan of $24,800.00 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. $2,606.63 $3,211.71 $2,833.62 $3,111.33 b. Calculate the total interest paid. $3,536.20 $28,336.20 $702.58 $6,369.82

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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