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On January 1, Year 1, Beatie Co, borrowed $410,000 cash from Central Bank by issuing a five-year. 4 percent note. The principal and Interest are
On January 1, Year 1, Beatie Co, borrowed $410,000 cash from Central Bank by issuing a five-year. 4 percent note. The principal and Interest are to be paid by making annual payments in the amount of $92,097 Payments are to be made December 31 of each year, beginning December 31, Year 1 Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BEATIE CO. Amortization Schedule Cash Payments Applied to December 31 Interest Year Principal Balance on January 1 Applied to Principal Principal Balance End of Period Year 1 Year 2 Year 3 Year 4 Year 5
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