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Falco Inc. financed the purchase of a machine with a loan at 3 . 3 4 % compounded semi - annually. This loan will be

Falco Inc. financed the purchase of a machine with a loan at 3.34% compounded semi-annually. This loan will be settled by making payments of $7,100 at the end of every six months for 7 years.
a. What was the principal balance of the loan?
b. What was the total amount of interest charged?

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