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[15] A debt of $ 4000 is to be amortized with 20 equal payments at the end of each quarter with interest rate (4) =

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[15] A debt of $ 4000 is to be amortized with 20 equal payments at the end of each quarter with interest rate (4) = 4%. (a) [5] Determine the value of regular payments (the regular payments are rounded up to the nearest cent). (b) [10] Create a partial amortization schedule in the 10th and 11th periods including payment number, opening balance, interest, payment and closing balance. (Please use the regular pay- ments in (a) and keep two decimal places for the final result for each item and at least 5 places in the process of calculation. I suggest you to give the reasoning.)

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