Question: Question 20 (4 points) Word Problem Question 4: (You must submit an image of your FULL solution to the question in eConestoga. Go to Course

 Question 20 (4 points) Word Problem Question 4: (You must submit

Question 20 (4 points) Word Problem Question 4: (You must submit an image of your FULL solution to the question in eConestoga. Go to "Course Tools", "Assignments", [Midterm Submission]) A loan of $12,000 today is to be repaid by 3 equal payments due in 3 years, 6 years, and 12 years respectively from the date of the loan. If interest on the loan is 7.90% p.a. compounded semi-annually, what is the amount of each payment? (Round final answer to 2 decimal places, no $ sign. For example, $89,123.36 input as 89,123.36) Do not round intermediate steps

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