For each of the following four debts amortized by equal payments made at the end of each payment interval, compute
(a) The size of the periodic payments;
(b) The interest paid, principal repaid, and the balance for the first period;
(c) The interest paid, principal repaid, and the balance for the second period.

Transcribed Image Text:

Debt Principal $12 000 8000 15 000 9600 Repayment Period 8 years years 10 years 7 years Payment Period 3 months 1 month 6 months Compounding Interest Rate 10% 12 Period Quarterly Monthly Semi-annually Annually 1 year