M10-20 (Supplement 10D) Using an Online Calculator to produce and Interpret an Amortization Schedule [LO 10-54] Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corp.'s installment note that has original principal of $24,000, interest of 9% compounded annually, and a term of 3 years. (a) What is the annual payment? (b) of this amount, how much represents interest in year 1? (C) How much principal is included in the year 1 payment? (d) How much interest is included in the year 2 payment? (Round your answers to the nearest whole dollar amount.) (a) Annual payment (b) | Interest year 1 (c) Principal year 1 (d) Interest year 2 (e) over time, has the interest become a smaller or larger component of the annual payment? OSmaller O Larger References eBook & Resources