On January 1, 2016, Beatie Co. borrowed $370,000 cash from Central 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 $92,669.

On January 1, 2016, Beatie Co. borrowed $370,000 cash from Central 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 $92,669. Payments are to be made December 31 of each year, beginning December 31, 2016.

Required
Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.)


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