Question: has to be done on excel , please show calculations and formulas Part 2 -- Installment note: 2. On January 1, 2020 National Company signed

has to be done on excel , please show calculations and formulas

Part 2 -- Installment note: 2. On January 1, 2020 National Company signed a $500,000, 7% installment note to be repaid with 8 equal annual installments to be first made on December 31, 2020, and then every December 31 thereafter, REQUIRED: a. Determine the amount of each annual payment. b. Prepare an amortization table for this installment note (as reviewed in class).

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