Find the payment necessary to amortize a 6.3% loan of 7500 compounded semiannually, with 6 semiannual payments. find the payment necessary to amortize the loan and the total payments and the total amount of interest paid based on calculated semiannual payments.

Semiannual payment = $ 1391.37

Total payment = $ 8348.22

Interest paid =  $ 848.22

Step-by-step explanation:

Since, the semiannual payment formula of a loan,

Where,

PV = present value of the loan,

n = number of semiannual payments,

r = annual rate,

Here, PV = 7500, r = 6.3% =0.063, n = 6,

By substituting the value,

The semiannual payment would be,

Also, total payment = semiannual payment × total semiannual periods

= 1391.37 × 6

= $ 8348.22,

Also, the interest paid = total payment - present value

= 8348.22 - 7500

= $ 848.22

the median here is 25. your lowest value is 14 and highest value is 48. to find the third quartile, find the medium number in between 25 and 48 which would be 42 i believe.