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Falco Inc. financed the purchase of a machine with a loan at 3.63% compounded semi-annually. This loan will be settled by making payments of $7,500

Falco Inc. financed the purchase of a machine with a loan at 3.63% compounded semi-annually. This loan will be settled by making payments of $7,500 at the end of every six months for 6 years.

a. What was the principal balance of the loan?

Round to the nearest cent

b. What was the total amount of interest charged?

Round to the nearest cent

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