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The interest rate on a $ 1 4 , 0 0 0 loan is 8 . 4 % compounded semiannually. Semiannual payments will pay off
The interest rate on a $ loan is compounded
semiannually. Semiannual payments will pay off the loan in seven
years.Do not round intermediate calculations. Round
the PMT and final answers to decimal places.
aCalculate the interest component of
Payment
Interest
$
bCalculate the principal component of
Payment
Principal
$
cCalculate the interest paid in Year
Interest paid
$
dHow much do Payments to inclusive
reduce the principal balance?
Principal reduction $
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