Tableau Dashboard Actlvity 9.1 Understandlng Princlpal and Interest on Installment Notes 1 A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank glves 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 addittonal rlsk of borrowing lending for a longer time period. Required: A company has decided to purchase equipment, needing to borrow $100,000 from lts local bank to make the purchase. The bank glves the company two optlons: (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 borrowing lending for a longe time perlod. 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) A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank glves the company two optlons: (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 rlsk of borrowing lending for a longer time period. Required: 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? A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank glves the company two optlons: (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 rlsk of borrowing 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.)