Help me with this math problem please

Question

A P2000 loan was originally made at 8% simple interest for 4 years. at the end of this period the loan was extended for 3 years, without the interest being paid, but the new interest rate was made 10% compunded semi- annually. how much should the borrower pay at the end of 7 years?

Answer 1

Since you are from NY, i am wondering what currency the loan is in (what does P mean)?

 

2000(1.32) is what I believe the due amount will be at the end of the four years, based on simple interest; =2640.

 

The next loan running for 3 years will require payment, at the end of that term, of 2640(1.05)⁶ = 3537.85