An auto repair shop borrowed $12,000 to be repaid by monthly payments over 8 years. Interest on the loan is 12% compounded monthly (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 55? (c) What is the interest paid on payment 56? (d) How much principal is repaid in payment 56? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)