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On December 31, 2020, Sack Port Ventures Inc borrowed $100,000 by signing a four-year, 6.5% installment note The note requires annual payments of accrued interest

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On December 31, 2020, Sack Port Ventures Inc borrowed $100,000 by signing a four-year, 6.5% installment note The note requires annual payments of accrued interest and equal amounts of principal on December 31 of each year from 2021 through 2024 a. How much principal will be included in each of the four payments? Amount of coach payment $ 25,000 b. Prepare an amortization table for this installment note. (Round the final answers to the nearest whole dollar. Enter all the amounts as positive values Begitining Balance Year Ending 2021 Interest Expense Payments Notes Payable Cash Ending Balance S 100.000 2022 2023 2024 Total 0$ 0 $ 0

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