Pharoah Electronics issues a $393,500, 5%, 15-year mortgage note on December 31, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate and insurance, of $50960. Payments are due December 31.Please show work so i can learn how to do it on my own.

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 15-04A a-c (Part Level Submission) (Video) Pharoah Electronics issues a $393,500, 5%, 15-year mortgage note on December 31, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $50,960. Payments are due on December 31. (a) Prepare an installment payments schedule for the first 4 years. (Round answers to O decimal places, e.g. 15,250.) Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue Date 393500 19675 50960 50960 50960 50960 Attempts: 0 of 5 used