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1. Select the following note components: Principal amount $400,000 minimum, $1,200,000 maximimum, $25,000 increments Stated rate 5% annual minimum, 12% annual maximimum, whole percent increments (i.e, not 6.5\%) Market rate 5% annual minimum, 12% annual maximimum, whole percent increments (i.e, not 6.5\%) Term in years 5 year minimum, 12 year maximum, whole years only 2. Calculate the present value of the note. 3. Build the amortization table 4. Record all journal entries for the life of the note, including the initial issuance of the note and the final payment of the note. Follow the formats demonstrated in class. 1. Select the following note components: Principal amount $400,000 minimum, $1,200,000 maximimum, $25,000 increments Stated rate 5% annual minimum, 12% annual maximimum, whole percent increments (i.e, not 6.5\%) Market rate 5% annual minimum, 12% annual maximimum, whole percent increments (i.e, not 6.5\%) Term in years 5 year minimum, 12 year maximum, whole years only 2. Calculate the present value of the note. 3. Build the amortization table 4. Record all journal entries for the life of the note, including the initial issuance of the note and the final payment of the note. Follow the formats demonstrated in class

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