Ask Question
21 September, 14:43

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?

+1
Answers (1)
  1. 21 September, 18:09
    0
    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
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “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? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers