A $37,000 loan at 8.2% compounded semi-annually is to be repaid by semi-annual payments of $2500 (except for a smaller final payment).
a) What will be the principal component of the sixteenth payment?
b) What will be the interest portion of the sixth payment?
c) How much will Payments 8 to 14 inclusive reduce the principal balance?
d) How much interest will be paid in the fifth year?
e) What will be the final payment?

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The Answer of A $37,000 loan at 8.2% compounded semi-annually is to be repaid by semi-annual payments of $2500 (except for a smaller final payment).
a) What will be the principal component of the sixteenth payment?
b) What will be the interest portion of the sixth payment?
c) How much will Payments 8 to 14 inclusive reduce the principal balance?
d) How much interest will be paid in the fifth year?
e) What will be the final payment?

A $37,000 Loan at 8