1. (5 points) Steve Urkel buys new equipment for his cloning machine. The total for the equipment is $1,000. The store agrees to finance the purchase price for 6 months at 12% annual interest rate compounded monthly, with approximately equal payments at the end of each month. Use this information to complete the amortization schedule below. Payment Number Balance, start of month Amount of Payment Interest due, at end of month Principal due, at end of month Balance after Payment 2. (5 points) Prince Charming wants to buy Cinderella a new glass slipper. He deposits $2,000 at the end of each quarter for 2 years into an ordinary annuity earning 2.32% compounded monthly Construct a balance sheet showing the interest earned during each quarter and the balance at the end of each quarter. Payment Balance Payment Number