The debt is amortized by equal payments made at the end of each payment interval. Compute(a) the size of the periodicpayments; (b) the outstanding principal at the timeindicated; (c) the interest paid by the payment following the time indicated for finding the outstandingprincipal; and(d) the principal repaid by the same payment as in part c.

Debt Principal = $16,000.00

Repayment Period =9 years

Payment Interval= 1month

Interest Rate= 10%

Conversion Period=quarterly

Outstanding PrincipalAfter:7th payment