h MH Connect MQ Chapter 10 Connect Assignment 00 Exercise 10-2A Amortization schedule for an installment note LO 10-1 On January 1. Year 1, Beatie Co. borrowed $210,000 cash from Central Bank by issuing a five year, 7 percent note. The principal and interest are to be paid by making annual payments in the amount of $51.217. Payments are to be made December 31 of each year, beginning December 31 Year 1. Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) points Skipped eBook BEATIE CO. Amortization Schedule $210,000, 5-Yr. Term Note, 7% Interest Rate Prin. Bal. Cash Pay. Applied to Applied to Prin. Bal. Year on Jan. 1 Dec. 31 End of Interest Principal Period Year 1 $ 210,000 $ 51,217 $ 14,700$ 36,517 $ 173,483 Year 2 173.483 51,217 12,144 39,073 134,410 Year 3 134,410 51,217 9,409 41,808 92.602 Year 4 92,602 51,217 6,482 44,735 47,867 Year 5 47,857 51,2171 3,351 47,866