payable annually on January $1.$

Instructions

Set up a schedule of interest expense and discount amortization under the straight$-$line method. $($Round answers to the nearest cent.$)$

E$13\mathrm{.}7($LO $1)($Amortization Schedule$-$Effective$-$Interest$)$ Assume the same information as in E$13\mathrm{.}6.$

Instructions

Set up a schedule of interest expense and discount amortization under the effective$-$interest method. $($Hint$.$ The effective$-$interest rate must be computed.$)$

$*$Just need $13\mathrm{.}7$ answered. Please use a $12\%$ effectice rate$*$