12:22 Reader View Available Example 14.160 4. To start their business, Ming and Ling borrowed $24 000 to be repaid by 14.1 semi-annual payments over 12 years. Interest on the loan is 7% compounded semi-annually. a. What is the size of the periodic payment? b. What is the out- standing principal after the seventh payment? c. What is the interest paid in the eighth payment? d. How much principal is repaid in the eighth payment? 5. Lynn and Gina purchased