On January 1, 2014, Peyton Manning Company borrows $25,000 on a 6%, 3-year long-term installment notes payable. The note is to be paid on equal semi-annual installments starting on January 1, 2014. Each payment includes principal and interest.

1) Calculate the payment amount

PMT = $

2) Create an amortization schedule

1/1 and 7/1 through 2014 through 2016