Question 1195216
i used the arachnoid financial calculator at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>
here is a display of the results.
<img src = "http://theo.x10hosting.com/2022/080801.jpg">
inputs were everything except pv.
output was pv (present value).
that's the amount of the loan which is equal to 7,256.47.
the number of time periods is 8 years * 2 semi-annual periods per year = 16 semi-annual time periods.
the interest rate per time period is 7% per year / 2 semi-annual periods per year = 3.5% per semi-annual time period.
let me know if you have any questions.
theo