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Access an online loan calculator with annual payments, such as the one at mycalculators.com, to...

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Accounting

image Access an online loan calculator with annual payments, such as the one at mycalculators.com, to produce an amortization schedule for Welton Corporation's installment note that has original principal of $62,000, interest of 12 percent compounded annually, and a term of 3 years. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Required: (a) What is the annual payment? (b) Of this amount, how much represents interest in year 1? (c) How much principal is included in the year 1 payment? (d) How much interest is included in the year 2 payment? (e) Over time, has the interest become a smaller or larger component of the annual payment? Complete this question by entering your answers in the tabs below. (a) What is the annual payment? (b) Of this amount, how much represents interest in year 1 ? (c) How much principal is included in the year 1 payment? (d) How much interest is included in the year 2 payment

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