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he balance after 7 months, including interest, on a loan at 10.7% is $16,042.50. What are the principal and interest components of the balance? (Do

he balance after 7 months, including interest, on a loan at 10.7% is $16,042.50. What are the principal and interest components of the balance? (Do not round intermediate calculations and round your final answers to 2 decimal places.)


Principal component	$
Interest component	$

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