On January 1, 2014, Hatch Co. borrowed $270,000 cash from First Bank by issuing a five-year, 8 percent note. The principal and interest are to be paid by making annual payments in the amount of $67,623. Payments are to be made December 31 of each year, beginning December 31, 2014.

Prepare an amortization schedule for the interest and principal payments for the four-year period. (Enter all amounts as positive values. Round intermediate calculations and final answers to nearest whole dollar amount.)

Hatch Co
Amortization Schedule
Year	Principal balance on January 1	Cash payment December 31	Applied to interest	Applied to principal	Principal balance End of period
2014
2015
2016
2017

Answer rating: 100% (QA)

1 2 3 4 5 6 7 8 A Year 2014 2015 2016 2017 2018 B 270000 223977 17427216 1205909328 62615... View the full answer