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A debt of $44,000 is repaid over 12 years with payments occurring annually. Interest is 11% compounded quarterty. (a) What is the size of the
A debt of $44,000 is repaid over 12 years with payments occurring annually. Interest is 11% compounded quarterty. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 6 ? (c) What is the interest paid on payment 7 ? (d) How much principal is repaid in payment 7
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