Question: 1. A $20,000 loan at 6% compounded semi annually is repaid by monthly payments over seven years. 25 marks oa. What is the size of

1. A $20,000 loan at 6% compounded semi annually is repaid by monthly payments over seven years. 25 marks oa. What is the size of the monthly payment? b. Calculate the principal portion and Interest portion of the 22th payment

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