Question: A $28,000 loan at 6.4% compounded semi-annually is to be repaid by equal quarterly payments of $1250 over a seven-year term. 1. Determine the principal

A $28,000 loan at 6.4% compounded semi-annually is to be repaid

A $28,000 loan at 6.4% compounded semi-annually is to be repaid by equal quarterly payments of $1250 over a seven-year term. 1. Determine the principal repaid in the 20th payment. 2. Determine the interest paid in the 9th payment. 3. Determine the interest paid in the 5th year. 4. Determine the final payment

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