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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 $12,000 $806 Payment Interval 3 months Interest Rate 5% Conversion Period quarterly Outstanding Principal After: 6th payment (a) The number of payments required to amortize the debt is (Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed.)
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