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Calculate the interest component of payment

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Reference no: EM133019672

Question - A $141,000 loan at 6% compounded semiannually will be repaid by monthly payments over a 25-year amortization period.

Required -

a. Calculate the interest component of Payment 191.

b. Calculate the principal component of Payment 104.

c. Calculate the reduction of principal in Year 1.

d. Calculate the reduction of principal in Year 25.

Reference no: EM133019672

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