Question

Advanced Math

John Fare purchased $6,000 worth of equipment by making a $1000 down payment and promising to pay the remainder of the cost in semiannual payments over the next 3 years. The interest rate on the debt is 12%, compounded semiannually. Find the following. (Round your answers to the nearest cent.)

(a) the size of each payment
$ 

(b) the total amount paid over the life of the loan
$ 

(c) the total interest paid over the life of the loan​

Answer 1

Answer:

c

Step-by-step explanation:

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