Question: The interest rate on a $ 1 5 , 5 0 0 loan is 9 . 9 % compounded semiannually. Semiannual payments will pay off

The interest rate on a $15,500 loan is 9.9% 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 5.
Principal ,$
c. Calculate the interest paid in Year 7.
Interest paid
$
d. How much do Payments 5 to 8 inclusive reduce the principal balance?
Principal reduction
$
 The interest rate on a $15,500 loan is 9.9% compounded semiannually.

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