1. Tywin borrowed $8500 from the Iron Bank at 6.2% interest. He agreed to repay the...

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1. Tywin borrowed $8500 from the Iron Bank at 6.2% interest. He agreed to repay the loan in a single payment at the end of the term in 1.5 years. a. Determine the loan payment amount if the interest is simple interest. (2 marks) I b. How much would Tywin have to pay back if the interest is compounded semi-annually? (2 marks) C. For part (b), how much of this amount paid back would be interest? (1 mark) 1. Tywin borrowed $8500 from the Iron Bank at 6.2% interest. He agreed to repay the loan in a single payment at the end of the term in 1.5 years. a. Determine the loan payment amount if the interest is simple interest. (2 marks) I b. How much would Tywin have to pay back if the interest is compounded semi-annually? (2 marks) C. For part (b), how much of this amount paid back would be interest? (1 mark)