Answer:
2821.51
73425.64
28124.24
4124.24
Step-by-step explanation:
Effective rate: .058/2 = .029
This question is kind of ambigous and I'll make the assumption that there is no payment at time 0
\begin{gathered}175000=x\frac{(1+.029)^{2*18}-1}{.029}\\x=2821.511\end{gathered}
175000=x
.029
(1+.029)
2∗18
−1
x=2821.511
interested earned:
175000-2821.51*36= 73425.64
2.)
Same assumption as question 1 (there is no payment at time 0)
effective rate: .063/12= .00525
400(\frac{(1+.00525)^{60}-1}{.00525})=28124.24400(
.00525
(1+.00525)
60
−1
)=28124.24
Interest earned: 28124-400*60=4124.24
