Tableau Dashboard Activity 9-1 Understanding Principal and Interest on Installment Notes Review the Tableau visualization, and then answer the questions that follow. A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank gives the company two options: (a) 60-month installment note with 4% interest or (b) 120 -month installment note with 8% interest. Lenders often charge a higher interest rate for longer-term loans to compensate for additional risk of lending for a longer time period. Required: Complete this question by entering your answers in the tabs below. What is the monthly payment amount for each option? (Round your answer to 2 decimal places.) Tableau Dashboard Activity 9-1 Understanding Principal and Interest on Installment Notes Review the Tableau visualization, and then answer the questions that follow. A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank gives the company two options: (a) 60-month installment note with 4% interest or (b) 120 -month installment note with 8% interest. Lenders often charge a higher interest rate for longer-term loans to compensate for additional risk of lending for a longer time period. Required: Complete this question by entering your answers in the tabs below. What is the monthly payment amount for each option? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. What is the total amount of interest paid over the life of the note for each option? Complete this question by entering your answers in the tabs below. Does the interest portion of each payment increase or decrease over time? Does the interest portion of each payment increase or decrease over time? Record $100,000 cash received from the issuance of the 120 -month installment note with 8% interest. Journal entry worksheet Record $100,000 cash received from the issuance of the 120 -month installment note with 8% interest. Note: Enter debits before credits. Record the first monthly payment of the 120 -month installment note with 8% interest Journal entry worksheet Record the first monthly payment of the 120-month installment note with 8% interest. Note: Enter debits before credits. Review the Tableau visualization, and then answer the questions that follow. A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank gives the company two options: (a) 60-month installment note with 4% interest or (b) 120 -month installment note with 8% interest. Lenders often charge a higher interest rate for longer-term loans to compensate for additional risk of lending for a longer time period. Required: Complete this question by entering your answers in the tabs below. Select the options to display a 120 -month installment note with 12% interest. How much of the principal amount is due after the 60th payment? (Hint: Scroll down the Monthly Payment Schedule)