estion: The interest rate on a $54,000 loan is 8.6% compounded semiannually. Quarterly payments will pay ...

The interest rate on a $54,000 loan is 8.6% compounded semiannually. Quarterly payments will pay off the loan in ten years. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

a. Calculate the interest component of Payment 8.

Interest $

b. Calculate the principal component of Payment 33.

Principal $

c. Calculate the total interest in Payments 21 to 30 inclusive.

Total interest $

d. Calculate the reduction of principal in Year 3.

Principal reduction $