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A loan of $20 000 is to be amortized by 20 quarterly payments over 5 years at j 12 = 712%712%. Split the 9th payment

A loan of $20 000 is to be amortized by 20 quarterly payments over 5 years at j₁₂ = 712%712%. Split the 9th payment into principal and interest. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a) I₉₌$

b) P₉₌$

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