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A debt of $45,000 is repaid over 14 years with payments occurring quarterly. Interest is 4%compounded annually. (a) What is the size of the periodic

A debt of $45,000 is repaid over 14 years with payments occurring quarterly. Interest is 4%compounded annually.

(a) What is the size of the periodic payment?

(b) What is the outstanding principal after payment 46?

(c) What is the interest paid on payment 47?

(d) How much principal is repaid in payment 47?

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