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  3. a student takes out a loan of $2,700 at the beginn

A student takes out a loan of $2,700 at the beginning of each semester (semi-annually)...

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Accounting

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A student takes out a loan of $2,700 at the beginning of each semester (semi-annually) for 7 semesters to pay for college. After the 7 semesters, the student graduates. The loan allows 6 months after graduation before the student must start repaying the loan. While no payments are made during this 6 month period, interest is charged on the balance. If the loan charges 6.8% interest compounded semiannually, find the amount owed at graduation and the amount owed 6 months after graduation when payments are to begin. . The loan balance after the 7 semesters is $ (Round to the nearest cent as needed.) The loan balance 6 months after graduation is $

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