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A loan of $34,200.00 at 5.50% 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. $3, 645.25 $4,537.24 $3,958.30 $4,341.38 b. Calculate the total interest paid. $5,383.00 $39,583.00 $1,424.70 $9,341.30 b. Calculate the total interest paid. O $5,383.00 O $39,583.00 O $1,424.70 O $9,341.30

A loan of $34,200.00 at 5.50% 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. $3, 645.25 $4,537.24 $3,958.30 $4,341.38 b. Calculate the total interest paid. $5,383.00 $39,583.00 $1,424.70 $9,341.30 b. Calculate the total interest paid. O $5,383.00 O $39,583.00 O $1,424.70 O $9,341.30

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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A loan of $34,200.00 at 5.50% 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. $3, 645.25 $4,537.24 $3,958.30 $4,341.38 b. Calculate the total interest paid. $5,383.00 $39,583.00 $1,424.70 $9,341.30 b. Calculate the total interest paid. O $5,383.00 O $39,583.00 O $1,424.70 O $9,341.30
Transcribed Image Text:A loan of $34,200.00 at 5.50% 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. $3, 645.25 $4,537.24 $3,958.30 $4,341.38 b. Calculate the total interest paid. $5,383.00 $39,583.00 $1,424.70 $9,341.30 b. Calculate the total interest paid. O $5,383.00 O $39,583.00 O $1,424.70 O $9,341.30
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