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Interactive Computer Company signed a 10-year, 7.3%, $701,480 mortgage on June 30, 2017, to help finance a new repair center. The mortgage terms provide for
Interactive Computer Company signed a 10-year, 7.3%, $701,480 mortgage on June 30, 2017, to help finance a new repair center. The mortgage terms provide for semi-annual blended principal and interest payments of $50,029. Payments are due on December 31 and June 30. The company's year end is June 30. (a) Prepare an instalment payment schedule for the first two years. (Round answers to the nearest whole dollar,e.g. 5,275.) Cash Payment Reduction of Principal Principal Balance Semi-annual Interest Expense Interest Period June 30, 2017 Dec. 31, 2017 June 30, 2018 Dec. 31, 2018 June 30, 2019
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