1. On January 1, 2018, Oakbrook Inc. rendered services to Beghun Corp. at an agreed price of $102,049, accepting $40,000 down payment and agreeing to accept the balance in four equal installment notes of $20,000 receivable each December 3

Instructions:

1. Compute the implied interest rate for the installments.
2. Prepare the amortization table for the payments.