CALCULATOR PRINTER VERSION BACK Question 1 Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know oven they want and that it will cost $17,000. The company already has $5,000 set aside for the purchase and will need to borrow the rest. Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $12,000 on November 1, 2020, for a periodo years at a 5% interest rate. The terms provide for fixed principal payments of $2,000, on May 1 and November 1 of each year plus 6 months of interest. Your answer is partially correct. Try again. Prepare a payment schedule for the life of the note. (If answer is o, please enter O. Do not leave any fields blank.) Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Nov. 2020 12000 May 2021 2000 300 2300 10000 Nov. 2021 2000 250 2250 8000 May 2022 2000 200 2200 6000 Nov. 2022 2000 150 2150 4000 May 2023 2000 100 2100 2000 Nov. 2023 2000 50 2050 0 Totals 12000 1050 13050