Question: Alberto borrowed $5000 for 4 years. For the first 2 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became

Alberto borrowed $5000 for 4 years. For the first 2 years,

Alberto borrowed $5000 for 4 years. For the first 2 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7 5% compounded semiannually. What total amount was required to pay off the loan at the expiry of the 4-year term? A detailed timeline is required for this question.

QUESTION 3 Alberto borrowed $5000 for 412 years. For the first 212 years, the interest rate on the loan was 8.4% compounded monthly. Then the rate became 7.5% compounded semiannually. What total amount was required to pay off the loan at the expiry of the 41/2-year term? A detailed timeline is required for this

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