A loan of $$9600$ is repaid by equal payments made at the end of every three months for $3$ years. If interest is $7\%$ compounded quarterly. a$)$ What is the size of the periodic payment? b$)$ What is the interest paid in the $9$th payment? $($ Money up to $2$ d$.$p$.)$PV $=$ I$/$Y $=$ C$/$Y $=$ i $=$ n$=$ PMT $=$ For interest paid in $9$th instalment, we need outstanding balance after $8$ payments:n $=$ Outstanding Balance ag after $8$th payment $=$ Interest paid in $9$th payment$=$