You are taking a $2000 lo

You are taking a $2000 lo

You are taking a $2000 loan. You will pay it back in four equal amounts, paid every 6 months starting years from now. The interest rate is 14% compounded semiannually. Calculate:a. The effective interest rate,b. The amount of each semiannual paymnet, andc. The total interest rate.Also: Repeat (a) and (b) but assuming compounding is done monthly (instead of semi-annually)and Repeat (b) and (b) but assuming compounding is done continuously.

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