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Falco Inc. financed the purchase of a machine with a loan at 4 . 2 1 % compounded semi - annually. This loan will be

Falco Inc. financed the purchase of a machine with a loan at

4.21 %

compounded semi

-

annually. This loan will be settled by making payments of $

7, 800

at the end of every six months for

9

years.

.

What was the principal balance of the loan?

Round to the nearest cent

.

What was the total amount of interest charged?

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