Question $1(9$ points$)$

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The Very Big Corporation of America has taken out a loan of $$30,000,$ which they will repay with semi$-$annual payments for the next $14$ years. Interest is $5\mathrm{.}4\%$ compounded monthly.

a$)$ Determine the size of the semi$-$annual payments. $(3$ marks$)$

b$)$ Construct an amortization schedule. $(6$ marks$)$

Click here for a spreadsheet. Use this spreadsheet to construct the amortization schedule.

When complete, save your work and paste the link to your spreadsheet in the second entry field below.