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D . LOAN AMORTIZATION. Answer the following questions and show your solutions ( 2 0 points ) The interest rate on a $ 1 4

.

LOAN AMORTIZATION. Answer the following questions and show your solutions

(20

points

)

The interest rate on a $

14, 000

loan is

8.4 %

compounded semiannually. Semiannual payments will pay

off the loan in

7

years.

.

Construct the amortization schedule for the above loan.

.

Calculate the total interest component and principal payments after

14

payments.

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