Question: (1 point) Jess borrows 4700 dollars from Wes at a rate of 7.2 percent convertible semiannually, and agrees to make 17 equal annual payments (the

(1 point) Jess borrows 4700 dollars from Wes at a rate

(1 point) Jess borrows 4700 dollars from Wes at a rate of 7.2 percent convertible semiannually, and agrees to make 17 equal annual payments (the first a year from now) to repay the loan. Immediately after Jess makes the 6th payment, Wes sells the loan to Su. If Wes' total yield rate (on both the original loan and the sale to Su) is 2.2 percent effective, how much does Su pay Wes for the loan? Answer = 3091.70879171 dollars

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