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Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corporation's installment note that
Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corporation's installment note that has onginal principal of $14,000, interest of 6 percent compounded annually, and a term of 3 years. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Required: ( What is the annual payment? (b) of this amount how much represents interest in year 1? How much principal is included in the year 1 payment? (c) How much interest is included in the year 2 payment? (e Over time, has the interest become a smaller or larger component of the annual payment? Complete this question by entering your answers in the tabs below. Reg A to D ReqE (a) What is the annual payment? (b) of this amount, how much represents interest in year 12 (c) How much principal is included in the year 1 payment? (c) How much interest is induded in the year 2 payment? Show less (3) Annual Payment (6) Interest year 1 (c) Principal year 1 (d) Interest year 2 ReqE>
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