You have $180,000 loan, NOM rate= 5.50% per annum, compounded annually. Term of loan is 1.5 years and the instalments are paid on a weekly basis. Assume 52 weeks per annum. The weekly instalments is...

You have $180,000 loan, NOM rate= 5.50% per annum, compounded annually. Term of loan is 1.5 years and the instalments are paid on a weekly basis. Assume 52 weeks per annum. The weekly instalments is $2,405.41. What is the principle portion of the first instalment?(step by step solution please)