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.) a. Calculate the interest component of Payment 11 Interest b. Calculate the principal component of Payment 7. Principal c. Calculate the interest paid in Year 7 Interest paid d. How much do Payments 7 to 10 inclusive reduce the principal balance? Principal reduction The interest rate on a $113,000 loan is 8.3% compounded semiannually. The monthly payments on the loan are $870. (Round your answers to 2 decimal places.) a. Calculate the interest component of Payment 215. Interest b. Calculate the principal component of Payment 150. Principal C. Calculate the final payment Final payment $