E-Loan, an online lending service, recently offered 48-month auto loans at 4.5 % compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $ 448, how much can you borrow from E-Loan? What is the total interest you will pay for this loan?

Bonds often pay a coupon twice a year. for the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. using the values of cash flows and number of periods, the valuation model is adjusted accordingly. assume that a $1,000,000 par value, semiannual coupon us treasury note with three years to maturity has a coupon rate of 3%. the yield to maturity (ytm) of the bond is 7.70%. using this information and ignoring the other costs involved, calculate the value of the treasury note: