$0.00 2 6 1 9 g gqga82gg& $1,213.28 3425.52 $181.15 303,040.75 57 $1,213.28 $420.27 $793.00 $62,247.74 | 58 $1,213.28 $414.98 $798.29 $61,449.45 $1,213.28 $409.66 $803.61 $60,645.84 $500.00 60 $1,213.28 $404.31 $808.97 $59,836.87 | $1,213.28 $398.91 $814.36 $59,022.51 62 $1,213.28 $393.48 $819.79 $58,202.71 63 $1,213.28 $388.02 $825.26 $57,377.45 $1,213.28 $382.52 $830.76 $56,546.70 65 $1,213.28 $376.98 $836.30 $55,710.40 66 $1,213.28 $371.40 $841.87 $54,868.52 $1,213.28 $365.79 $847.49 68 $1,213.28 $360.14 $853.14 $54,021.04 $53,167.90 | 69 $1,213.28 $354.45 $858.82 $52,309.08 $2,000.00 70 $1,213.28 $348.73 $864.55 $51,444.53 81.213.30 6312.00 6070.21 CCA CHA O Total Interest and Principal Paid $1,500.00 $45,593.11 Interest ++ableau $100,000.00 $1,000.00 $500.00 $0.00 Principal Interest Portion of Each Payment J 2 220 5 2 6 00 K 2 6 A company has decided to purchase equipment, needing to borrow $100,000 from its local bank to make the purchase. The bank gives 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 additional risk of lending for a longer time period. Required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 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) Principal amount This is a numeric cell, so please enter numbers only. equired 5 Required 6 > 60 =