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The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal
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 Debt Payment $17,000 $814 Payment Interval Interest Rate Conversion Period 1 month 8% quarterly Outstanding Principal After: 7th payment (a) The number of payments required to amortize the debt is (Round up to the nearest integer.) (b) The outstanding principal is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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