Ee. 272. A $42,000 loan at 8.2% compounded semiannually is to be repaid by semiannual payments of $3,000 (except for a smaller finalpayment). (Do not round intermediate calculations and round your final answers to 2 decimal places.)a. What will be the principal component of the sixteenth payment?Principal$b. What will be the interest portion of the sixth payment?$c. How much will Payments 7 to 15 inclusive reduce the principal balance?Principal reductiond. How much interest will be paid in the fourth year?Interest paid$e. What will be the final payment?Final payment$Interest

Answered: Image /qna-images/answer/d55b6a01-ebee-434e-a4f8-a18d9a6b5ed4.jpg

Answered: A $42,000 loan at 8.2% compounded…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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