Semiannual payments are required on an $80,000 loan at 8.0% compounded annually. The loan has...
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Semiannual payments are required on an $80,000 loan at 8.0% compounded annually. The loan has an amortization period of 15 years. (Round your answers to 2 decimal places.)a. Calculate the interest component of Payment 5. b. Calculate the principal component of Payment 17. c. Calculate the interest paid in Year 1. d. Calculate the interest paid in Year 14.
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