Plz complete solution I specially need last two parts so plz complete solution A $51,000 loan at 9.6% compounded semiannually is to be repaid by semiannual payments of $3,900 (except for a smaller finalpayment). (Do not round intermediate calculations and round your final answers to 2 decimal places.)a. What will be the principal component of the sixteenth payment?Principalb. What will be the interest portion of the fifth payment?Interestc. How much will Payments 8 to 14 inclusive reduce the principal balance?Principal reductiond. How much interest will be paid in the fifth year?Interest paid$e. What will be the final payment?Final payment2

Loan amortization refers to a schedule which is prepared to show the periodic loan payments, amount…

Answered: A $51,000 loan at 9.6 % compounded…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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