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
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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
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