Question: Please help me to solve this problem, thanks in advance. (5 points) A loan of $46,000 is made at a nominal annual interest rate of

Please help me to solve this problem, thanks in advance.

(5 points) A loan of $46,000 is made at a nominal annual interest rate of 3.45% compounded semi-annually. The loan is to be repaid over 2 years, in 8 quarterly payments. a) Find the effective periodic interest rate to be used in the calculations below. Answer = %. b) Find the amount of the quarterly payment if the loan is repaid in equal quarterly payments starting one quarter after the loan was made. Answer = $ c) Find the amount of the quarterly payment if the loan is repaid in equal quarterly payments starting 6 quarters after the loan was made. Answer = $

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