An auto repair shop borrowed $14,000 to be repaid by quarterly payments over 4 years. Interest on the loan is 12% compounded quarterly. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 7 ? (c) What is the interest paid on payment 8 ? (d) How much principal is repaid in payment 8 ? (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.)