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Please solve attached problem and show all work. Thank you. 2) A debt of $10,000 must be paid in a series of equal monthly payments

Please solve attached problem and show all work. Thank you.

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2) A debt of $10,000 must be paid in a series of equal monthly payments for 5 years. The nominal annual interest rate is 12%, compounded monthly. Show all your work. i. The amount of each payment is equal to . A) $166.67 B) $185.33 C) $222.00 D) $192.91 ii. The effective interest rate for this loan is . A) 12% B) 13.12% C) 12.68% D) None of these iii. The loan balance immediately after the 12tl1 payment is A) $8,000 B) $8,430 C) $7,298 D) None of these iv. The total interest paid on this debt is A) $2,000 B) $2,712 C) 1, 500 D) $3,320 v. The quarterly payment, if interest is compounded quarterly, is A) $598 B) $766 C) $672 D) $499

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