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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
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 $15,000, Repayment Period is 8 years, Payment Interval is 1 month, Interest rate 6%, Conversion Period is monthly, Outsanding Principal After is 8th payment (a) The size of the periodic payment is? (b) The outstanding principal after the 8th payment is? (c) The interest paid by the 9th payment is? (d) The principal repaid by the 9th payment is
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