i need a visual like the one you provided but not crammed the way the expert responded. Like the whole thing please. A partial amortization schedule for a note payable with interest paid annually that was issued on January $1,$ Year $1,$ is shown next: Accounting Period Year $1$ Principal balance January $1$ $ $418,000$ Required A Cash Payment $ $54,500$ Required: a$.$ What is the annual rate of interest charged on this loan? b$.$ Using the horizontal financial statements model, record the appropriate amounts for the following two events: $(1)$ January $1,$ Year $1,$ issue of the note payable. $(2)$ December $31,$ Year $1,$ payment on the note payable. Required B Complete this question by entering your answers in the tabs below. Applied to Interest $ $16,720$ Annual rate of interest What is the annual rate of interest charged on this loan? Applied to Principal $ $37,780\%$

A partial amortization schedule for a note payable with interest paid annually that was issued on January $1,$ Year $1,$ is shown next:

Required:

a$.$ What is the annual rate of interest charged on this loan?

b$.$ Using the horizontal financial statements model, record the appropriate amounts for the following two events:

$(1)$ January $1,$ Year $1,$ issue of the note payable.

$(2)$ December $31,$ Year $1,$ payment on the note payable.

Complete this question by entering your answers in the tabs below.

What is the annual rate of interest charged on this loan?