Question: A $37,000 loan at 8.2% compounded semiannually is to be repaid by semiannual payments of $2500 (except for a smaller final payment). a. What will

A $37,000 loan at 8.2% compounded semiannually is to be repaid by semiannual payments of $2500 (except for a smaller final payment).
a. What will be the principal component of the sixteenth payment?
b. What will be the interest portion of the sixth payment?
c. How much will Payments 8 to 14 inclusive reduce the principal balance?
d. How much interest will be paid in the fifth year?
e. What will be the final payment?

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