Question: awarded Scored A $ 4 6 , 0 0 0 loan at 8 . 9 % compounded semiannually is to be repaid by semiannual payments

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A $46,000 loan at 8.9% compounded semiannually is to be repaid by semiannual payments of $3,400(except for a smaller final payment).(Do not round intermediate calculations and round your final answers to 2 decimal places.)
a. What will be the principal component of the sixteenth payment?
Principal
$ 2,599.71
b. What will be the interest portion of the eighth payment?
Interest
$ 1,564.91
c. How much will Payments 9 to 15 inclusive reduce the principal balance?
Principal reduction
$ 13,430.62
d. How much interest will be paid in the fifth year?
Interest paid
$ 1,397.96
e. What will be the final payment?
Final payment
$ 544.00

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