Campus Flights takes out a bank loan in the amount of $210,000 on March 1. The terms of the loan include a repayment of principal in ten equal installments, paid annually from March 1. The annual interest rate on the loan is 6 percent, recognized on December 31. A. Compute the interest recognized as of December 31 in year 1. 10,500 B. Compute the principal due in year 1. Feedback Check My Work A. Remember that the interest formula is principal x rate x time. Interest is a function of time that has passed. Refer to the textbook for examples of the formula applied. B. The principal payment in the first year is a function of the time period served in that year