On an annual renewable lease, the quarterly lease payment on office space is $$1,600$ payable at the begining of every three months. What equivalent yearly payment made in advance would satisfy the lease if interest is $5\mathrm{.}7\%$ compounded quarterly?

The debt is amortized by the periodic payment shown. Compute $($a$)$ the number of payments required to amortize the debt; $($b$)$ the outstanding principal at the time indicated.

$\backslash$table$[[$Debt Princ,$\backslash$table$[[$Payment$],[$Interval$]],$Interest Rate,$\backslash$table$[[$Conversion$],[$Period$]],\backslash$table$[[$Outstanding$],[$Principal After:$]]],[$$$16,000,3$ months,$4\%,$quarterly,$7$th payment$]]$