7. A loan, amortized over 5 years, is repaid by making payments of $1,700 at the end of every month. If the interest rate is 4.75% compounded semi-annually, what was the loan principal? Kindly keep...

7.
A loan, amortized over 5 years, is repaid by making payments of $1,700 at the end of every month. If the interest rate is 4.75% compounded semi-annually, what was the loan principal?

Kindly keep all the decimals for all the procedures, DO NOT ROUND