Problem #2: Installment Note Preferred Corporation purchases an asset and finances it with a note payable. Information regarding the transaction follows: 106,000 106,000 Cost of asset Amount Financed Annual Interest Rate Installment loan term Payments are made 2 years 12 times per year 9.) What is the total amount of interest that will be paid on the note payable over the two year period? What is the total amount of Interest that will be paid on the nato payable over the mom