Math question:
Cody received a loan of $45,750, 4 years ago. The interest rate charged on the loan was 4.92% compounded quarterly for the first 6 months, 5.10% compounded semi-annually for the next 2 years, and 5.88% compounded monthly thereafter.
a. Calculate the accumulated value of the loan at the end of the first 6 months.
b. Calculate the accumulated value of the loan at the end of the next 2 year period.
c. Calculate the accumulated value of the loan today.
d. Calculate the amount of interest charged on this loan over the past 4 years.