What is the monthly payment amount for each option? $($Round your answer to $2$ decimal places.$)$

Monthly payment for option $($a$)$

Monthly payment for option $($b$)$

What is the total amount of interest paid over the life of the note for each option?

Total amount of interest for option $($a$)$

Total amount of interest for option $($b$)$

oes the interest portion of each payment increase or decrease over time?

Does the interest portion of each payment increase or decrease over time?

Record $$100,000$ cash received from the issuance of the $120-$month installment note with $8\%$ interest.

Record the first monthly payment of the $120-$month installment note with $8\%$ interest.

Select the options to display a $120-$month installment note with $12\%$ interest. How much of the principal amount is due after the $60$th payment? $($Hint: Scroll down the Monthly Payment Schedule$)$

Principal amount