Calculate the interest component of payment

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Reference no: EM131021524

The interest rate on a $15,800 loan is 10.2% compounded semiannually. Semiannual payments will pay off the loan in seven years. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.)

a. Calculate the interest component of Payment 10.

b. Calculate the principal component of Payment 3.

c. Calculate the interest paid in Year 6.

d. How much do Payments 3 to 6 inclusive reduce the principal balance?

Reference no: EM131021524

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