Question: A borrower has sent a cheque for $21,200.00 in full settlement of a loan balance including interest at 13.5% for 8 months. a)How much was

A borrower has sent a cheque for $21,200.00 in full settlement of a loan balance including interest at 13.5% for 8 months.

a)How much was the principal on the loan?

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b)How much of the total payment is interest?

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