On January 1, Year 1, Beatie Company 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. Note: Round your answers to the nearest dollar amount. Year Year 1 Year 2 Year 3 Year 4 Year 5 Principal Balance on January 1 $ 410,000 BEATIE COMPANY Amortization Schedule Cash Payments December 31 92,097 92,097 92,097 92,097 92,097 $ Applied to Interest Applied to Principal Principal Balance End of Period 0

On January 1, Year 1, Beatie Company 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. Note: Round your answers to the nearest dollar amount