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The debt is amortized by the periodic payment shown. Compute the following: a) the number of payments required to amortize the debt. b) the outstanding

The debt is amortized by the periodic payment shown. Compute the following:

a) the number of payments required to amortize the debt. b) the outstanding principal at the time indicated.

Debt Principal: $14,000 Debt Payment: $1171 Interest Rate: 12% Conversion Period: Monthly Outstanding Principal After: 8th Payment

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