The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt;
(b) the outstanding principal at the time indicated.
Debt PrincipalDebt Payment
Payment
Interval Interest Rate
Conversion
Period
Outstanding
Principal After:
$15,000 $1173 3 months 6% quarterly 6th payment
(a) The number of payments required to amortize the debt is .
(Round the final answer up to the nearest whole number. Round all intermediate values to six decimal places as needed.)
(b) The outstanding principal is $ .
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
using BAII plus