An auto repair shop borrowed $12 comma 000 to be repaid by quarterly payments over 7 years. Interest on the loan is 3 % compounded quarterly. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 21? (c) What is the interest paid on payment 22? (d) How much principal is repaid in payment 22? Question content area bottom Part 1 (a) The size of the periodic payment is $ 476.74. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Part 2 (b) The outstanding principal is $ 6688.92