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Margaret [11]
3 years ago
12

2. A loan for $4000 with interest at 6.75% compounded semi-annually is repaid after 5 years. What is the amount of interest paid

?
Mathematics
1 answer:
weqwewe [10]3 years ago
8 0

Answer:

Total Interest paid is $713.60

Loan $4,000.00 x60 months x6.75%

Payments $78.56X60=4,713.60

Deduct starting balance of $4,000.00 from total payments

Total $713.60

Step-by-step explanation:

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