Bramble Inc. developed a new sales gimmick to help sell its inventory of new automobiles. Because many new car buyers need financing, Bramble offered a low downpayment and low car payments for the first year after purchase. It believes that this promotion will bring in some new buyers. On January 1, 2020, a customer purchased a new $36,600 automobile, making a downpayment of $1,320. The customer signed a note indicating that the annual rate of interest would be 8% and that quarterly payments would be made over 3 years. For the first year, Bramble required a $441 quarterly payment to be made on April 1, July 1, October 1, and January 1, 2021. After this one-year period, the customer was required to make regular quarterly payments that would pay off the loan as of January 1, 2023. - Your answer is partially correct. Prepare a note amortization schedule for the first year. (Round answers to 0 decimal places, e.g. 38,548.) Cash Paid Interest Expense Discount Amortized Carrying Amount of Note Date 1/1/20 $ 35280 4/1/20 441 706 265 35015 7/1/20 441 700 259 34756 10/1/20 441 695 254 34502 1/1/21 441 690 249 34253 x Your answer is incorrect. Indicate the amount the customer owes on the contract at the end of the first year. (Round answer to 0 decimal places, e.g. 38,548.) The customer owes on the contract at the end of the first year $ 34253 e Textbook and Media X Your answer is incorrect. Compute the amount of the new quarterly payments. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) The new quarterly payments $ 4675 eTextbook and Media Cash Paid Interest Expense Discount Amortized Carrying Amount of Note Date 1/1/21 $ 0 34253 4/1/21 4675 685 3990 30263 7/1/21 4675 605 4070 26193 10/1/21 4675 524 4151 22042 1/1/22 4675 441 4234 17808 4/1/22 4675 356 4319 13489 7/1/22 4675 270 4405 9084 10/1/22 4675 182 4493 4591 1/1/23 4675 92 4583 e Textbook and Media