Ender Inc. borrowed $35,000 from State Bank on January 1 , 2020. The loan has an annual interest rate of 6%. The company will make monthly payments over the next 5 years, beginning February 1,2020 . The monthly payment of $676.65 is the same every month. - When the first payment is made on Feb. 1, 2020, what amount will be considered interest expense and how much will reduce the amount owed? - When the second payment is made on March 1, 2020, what amount will be considered interest expense and how much will reduce the amount owed