Question: Ashley received a $20,500 loan from a bank that was charging interest at 3.50% compounded semi-annually. a. How much does she need to pay at

Ashley received a $20,500 loan from a bank that was charging interest at 3.50% compounded semi-annually.

a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years?

Round to the nearest cent

b. What was the amount of interest charged on the loan over the 5-year period?

Round to the nearest cent

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