Let's say you are a credit analyst in the asset management department of a large bank or insurance company. The credit department is researching an investment in a syndicated loan made to a large...

Let's say you are a credit analyst in the asset management department of a large bank or insurance company. The credit department is researching an investment in a syndicated loan made to a large firm.  The loan is an “amortized loan” with a 7% interest rate payable semi-annually.  The original term was 10 years.  For analytical purposes, assume the loan trades in $1000 increments.  What are the semi-annual payments on the loan?

* PLEASE USE EXCEL AND SHOW WHAT FUNCTIONS/FORMULAS YOU USED*