A construction company signed a loan contract at

7.27%

compounded

semi-annually,

with the provision to pay

$575

at the end of each

month

for

four years.(a) What is amount of the loan?(b) How much will be owed at the end of

nineteen

months?

(c) How much of the principal will be repaid within the first nineteen

months?

(d) How much interest is paid during the first nineteen months?

Answer rating: 100% (QA)

Answer To solve this problem we need to use the annuity formula to calculate the present value of the loan and then use the amortization schedule to f... View the full answer