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.

Debt Principal $12000

Debt Payment $ 1057

Payment Interval 6 months

Interest Rate 3%

Conversion Period -semi annually

Outstanding Principal After: 8th payment

(a) The number of payments required to amortize the debt is

nothing.

(Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed.)

(b) The outstanding principal is $

nothing.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.