A $49,000 loan at 9.4% compounded semiannually is to be repaid by semiannual payments of $3,700 (except for a smaller final payment). (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. What will be the principal component of the sixteenth payment? Principal b. What will be the interest portion of the seventh payment? Interest

c. How much will Payments 8 to 14 inclusive reduce the principal balance? Principal reduction

d. How much interest will be paid in the sixth year? Interest paid

e. What will be the final payment? Final payment