Question: awarded Scored A $ 4 6 , 0 0 0 loan at 8 . 9 % compounded semiannually is to be repaid by semiannual payments
awarded
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A $ loan at compounded semiannually is to be repaid by semiannual payments of $except for a smaller final paymentDo not round intermediate calculations and round your final answers to decimal places.
a What will be the principal component of the sixteenth payment?
Principal
$
b What will be the interest portion of the eighth payment?
Interest
$
c How much will Payments to inclusive reduce the principal balance?
Principal reduction
$
d How much interest will be paid in the fifth year?
Interest paid
$
e What will be the final payment?
Final payment
$
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