Question: The problem describes a debt to be amortized. ( Round your answers to the nearest cent. ) Sean Lee purchases $ 3 0 , 0

The problem describes a debt to be amortized. (Round your answers to the nearest cent.)Sean Lee purchases $30,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over the next 5 years. The interest rate on the debt is 16% compounded quarterly.(a)Find the size of each payment.$ (b)Find the total amount paid for the purchase.$ (c)Find the total interest paid over the life of the loan.

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