To start their business, Ming and Ling borrowed $24 000 to be repaid by semi- annual payments

Question:

To start their business, Ming and Ling borrowed $24 000 to be repaid by semi- annual payments over 12 years. Interest on the loan is 7% compounded semi- annually.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after the seventh payment?
(c) What is the interest paid in the eighth payment?
(d) How much principal is repaid in the eighth payment?