In in-elastic buckling, the material assumes to follow Hooke's law and the stresses will be below the proportional limit. True False A partlal amortization schedule for a note payable with interest paid annually that was issued on January 1, Year 1, is shown next: Required: a. What is the annual rate of interest charged on this loan? b. Using the horizontal financlal statements model, record the appropriate amounts for the following two events: (1) January 1. Year 1, issue of the note payable. (2) December 31, Year 1, payment on the note payable. Complete this question by entering your answers in the tabs below. What is the annual rate of interest charged on this loan