Question 1168490
use an online financial calculator such as the one found at <a href = "https://arachnoid.com/finance/index.html" target = "_blank">https://arachnoid.com/finance/index.html</a>


your inputs will be:


pv = 0
fv = 35000
np = 5 * 2 time periods per year = 10 time periods
pmt = what you want to find
ir = 7.8% per year divided by 2 time periods per year = 3.9% per time period
payments made at end of each time period.


each time period is a semi-annual time period.


click on pmt and the calculator tells you that the payment at the end of each time period needs to be equal to 2928.73.


it's shown as negative because it's money that goes out from you.


here's a display of the inputs and output from that calculator.
the output is the pmt.


<img src = "http://theo.x10hosting.com/2020/102901.jpg" >