Presented below is a partial amortization schedule for a three-year installment note requiring monthly payments of $1,551.52. (3) (4) Decrease in Interest Expense Carrying Value Carrying Value x (5) Carrying Value Prior Carrying (1) Date (2) Cash Paid 11/1/2024 11/30/2024 $1,551.52 12/31/2024 1,551.52 10/31/2027 1,551.52 Interest Rate (2)- (3) $255.00 $1,296.52 248.52 1,303.00 7.72 1,543.80 Value (4) $51,000.00 49,703.48 48,400.48 1. What is the principal amount of the note? 2. What is the total number of monthly payments? 3. What is the total cash paid over the entire period of the note? (Round your answer to 2 decimal places.) 4. What is the total amount of interest paid over the entire period of the note? (Do not round your intermediate calculations. Round your answer to 2 decimal places.) 5. The portion of the monthly payment that reduces the carrying value (increases/decreases) over time. 1. Principal amount 2. Total number of monthly payments 3. Total cash paid 36 4. Total amount of interest paid 5. The portion of the monthly payment that reduces the carrying value (increases/decreases) over time. Increases