The following instalment payment schedule is for an instalment note payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Jan. 1.2021 $85,000 Jan 1, 2022 $19.633 $4,250 $15,383 69,617 Jan. 1.2023 19.633 3,481 16,152 53,465 Jan 1, 2024 19.633 2,673 16,960 36,505 Jan. 1. 2025 19,633 1,825 17,80 18,697 Jan 1, 2026 19,633 936 18,697 0 What is the interest rate on the note? (Round answer to decimal places, eg. 52%.) Interest rate % e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Subr (c) The parts of this question must be completed in order. This part will be available when you complete the part above