L13 Obj. 2, 4 & 5 911 A debt of $15,000 with interest at 12% compounded monthly is repaid over 10 years by equal payments made at the CLR 12 end of every three months. (a) the size of the periodic payments 3 1 3 1 b) For the first payment period, how much interest is paid, how much of the principal is repaid, and 1. how much interest is paid, = 2. how much of the principal is repaid, = 3. what is the loan balance? = 2 c) For the second payment period, how much interest is paid, how much of the principal is repaid, and what is the loan balance? (3 marks) 1. how much interest is paid, = 2. how much of the principal is repaid, = 3. what is the loan balance? =