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Charles received a $33,400 loan from a bank that was charging interest at 5.75% compounded
semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan
in 3 years? Round to the nearest cent b. What was the amount of interest charged on the loan
over the 3 -year period? Round to the nearest cent

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Charles received a 33400 loan from a bank that was chargin.pdf

  • 1. Charles received a $33,400 loan from a bank that was charging interest at 5.75% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 3 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 3 -year period? Round to the nearest cent