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A $29,000 loan at 12% compounded quarterly is to be repaid by equal quarterly payments over a seven-year term. a. What will be the principal

A $29,000 loan at 12% compounded quarterly is to be repaid by equal quarterly payments over a seven-year term.

a.

What will be the principal component of the sixth payment? (Round your answer to 2 decimal places.)

Principal component of the sixth payment $ .
b.

What will be the interest portion of the twenty-second payment? (Round your answer to 2 decimal places.)

Interest portion $ .
c.

How much will the loans balance be reduced by Payments 10 to 15 inclusive? (Round your answer to 2 decimal places.)

Principal paid by Payment 10 to Payment 15 inclusive $ .
d.

How much interest will be paid in the second year? (Round your answer to 2 decimal places.)

Interest paid in the second year $ .

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