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(2 points) (Exercise 5.17) A has borrowed $14000 on which interest is charged at 7.6% affective. A is accumulating a sinking fund at 6.7% effective

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(2 points) (Exercise 5.17) A has borrowed $14000 on which interest is charged at 7.6% affective. A is accumulating a sinking fund at 6.7% effective to repay the loan. At the end of 10 years the balance in the sinking fund is $7301.51. At the end of the 11th year A makes a payment of $1600. a) How much of the $1600 pays interest currently on the loan? ANSWER=$ b) How much of the $1600 goes into the sinking fund? ANSWER=$ C) How much of the $1600 should be considered as interest? ANSWER=$ d) How much of the $1600 should be considered as principal? ANSWER=$ e) What is the sinking fund balance at the end of the 11th year? ANSWER=$

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