You qualify for a $11,200 loan from the Crane Student Loans Program to help finance your education. Once you graduate, you start repaying this note payable at an interest rate of 4.8%. The monthly cash payment is $117.70, principal and interest, for 120 payments (10 years). Prepare an instalment payment schedule for the first four payments. (Round answers to 2 decimal places, e.g. 52.75.) Monthly Interest Period Cash Payment Issue Date 1 117.70 2 117.70 3 117.70 4 117.70 Interest Expense 44.8 Reduction of Principal P B $ You qualify for a $11,200 loan from the Crane Student Loans Program to help finance your education. Once you graduate, you start repaying this note payable at an interest rate of 4.8%. The monthly cash payment is $117.70, principal and interest, for 120 payments (10 years). Prepare an instalment payment schedule for the first four payments. (Round answers to 2 decimal places, e.g. 52.75.) 117.70 117.70 117.70 117.70 Interest Expense eTextbook and Media 44.8 Reduction of Principal Principal Balance 11200