2 17:42 The Interest rate on a $15,200 loan is 9.6% compounded semiannually. Semiannual payments will...
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2 17:42 The Interest rate on a $15,200 loan is 9.6% 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 3. Principal $ c. Calculate the Interest pald In Year 7. Interest pald $ d. How much do Payments 3 to 6 Inclusive reduce the principal balance? Principal reduction $ 2 17:42 The Interest rate on a $15,200 loan is 9.6% 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 3. Principal $ c. Calculate the Interest pald In Year 7. Interest pald $ d. How much do Payments 3 to 6 Inclusive reduce the principal balance? Principal reduction $
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