Bramble Inc. received a five$-$year bank loan bearing interest at $7\%$ with principal and interest instalment payments due annually. The

following instalment payment schedule is partially completed:

$($a$)$

Fill in the missing amounts.

est

od

Cash Payment

Interest Expense

Reduction of Principal

Principal Balance

tate

$$42,000$

$$10,244$

$$7,304$

$34,696$

$2,429$

$26,881$

$8,362$

$1,296$

$9,571$