Your company has an outstanding note payable at the beginning of the year, outstanding principal on the note is $100,000. The annual rate of interest is 6%. Your annual payment is $25,000. What amount of the payment reduces outstanding principle on the loan? $100,000 $19,000 $6,000 $25,000 Your company has an outstanding note payable at the beginning of the year, outstanding principal on the note is $100,000. The annual rate of interest is 6%. Your annual payment is $25,000. What amount of the payment reduces outstanding principle on the loan? $100,000 $19,000 $6,000 $25,000