Helen received a loan of $9,500 at 4.82% compounded semi-annually from a credit union to use as
Fantastic news! We've Found the answer you've been seeking!
Question:
Helen received a loan of $9,500 at 4.82% compounded semi-annually from a credit union to use as working capital for her business. She had to make semi-annual payments for a period of 5 years to settle the loan.
a.Calculate the size of her payments.
Round to the nearest cent
b.What was the total interest paid during the period?
Round to the nearest cent
c.What was the interest portion of payment number 3?
Round to the nearest cent
Expert Answer:
Posted Date:
