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steps to solve required 10 years 1. The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the
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10 years 1. The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal. Debt Principal Repayment Payment Conversion Outstanding Period Interest Rate Interval Period Principal After: $12,000 6 months 6% semi-annually 7th payment (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.) (b) The outstanding principal after the 7th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid by the 8th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid by the 8th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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