Question: A $37,000 loan at 8.2% compounded semiannually is to be repaid by equal semiannual payments over 10 years. a. What will be the principal component

A $37,000 loan at 8.2% compounded semiannually is to be repaid by equal semiannual payments over 10 years.
a. What will be the principal component of the sixth payment?
b. What will be the interest component of the sixteenth payment?
c. How much will Payments 6 to 15 inclusive reduce the principal?
d. How much interest will be paid in the third year?
e. What will be the final payment?

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