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The interest rate on a $14,300 loan is 8.7% compounded semiannually. Semiannual payments will pay off the loan in eight years. (Do not round intermediate

The interest rate on a $14,300 loan is 8.7% 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.)

Calculate the interest component of Payment 11.

Interest$

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