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Halep Inc. borrowed $36,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make
Halep Inc. borrowed $36,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $9,917.64 at the end of each year. Prepare an amortization table showing the principal and interest in each payment. Round your answers to two decimal places. Beginning Balance Ending Balance Year Payment Interest To Principal 1 $ 36,000 9,917.64 1,440.01 X $ 8,477.63 X 27,522.37 X 2 36,000 X 9,917.64 1,100.91 X 8,816.73 X 18,705.64 X 3 36,000 x 9,917.64 748.23 X 9,169.41 X 9,536.23 X 4 36,000 x 9,917.64 381.45 9,536.23 X 0
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