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The interest rate on a $14,100 loan is 8.5% compounded semiannually. Semiannual payments will pay off the loan in eight years. (Do not round intermediate

The interest rate on a $14,100 loan is 8.5% compounded semiannually. Semiannual payments will pay off the loan in eight years. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.)

a Calculate the interest component of Payment 11

b. Calculate the principal component of Payment 7

c. Calculate the interest paid in Year 7

d. How much do payments 7 to 10 inclusive reduce the principal balance

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