Question
Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corp.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 Corp.s installment note that has original principal of $13,000, interest of 10 percent compounded annually, and a term of 3 years. (a) What is the annual payment? (b) Of this amount, how much represents interest in year 1? (c) How much principal is included in the year 1 payment? (d) How much interest is included in the year 2 payment? (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
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