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help pls! The following instalment payment schedule is for a long-term bank loan payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance

help pls!
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The following instalment payment schedule is for a long-term bank loan payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date $300,000 1 $69.292.44 $15,000 245,707.56 $54,29244 57,007.06 2 69.292.44 12.285.38 188,700:50 69,292.44 3 9,435.03 59,857.41 128,843.09 4 69,292.44 6,442.15 62,850.29 65.992.80 5 69.292.44 3,299.64 65,992.80 (a) Assuming payments are made annually, what is the interest rate on the bank loan? (Round answer to the nearest whole percent, as 12%) 6 C Mostly party

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