Lionel received a $33,950 loan from a bank that was charging interest at 4.50% compounded...
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Accounting
Lionel received a $33,950 loan from a bank that was charging interest at 4.50% compounded semi-annually.
a. How much does he need to pay at the end of every 6 months to settle the loan in 4 years?
Round to the nearest cent
b. What was the amount of interest charged on the loan over the 4-year period?
Round to the nearest cent
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