Answer: Please see below
Explanation: Amortization for the four year period is given as
FOR 2018
Principal Balance = $100,000
cash payment for dec 31st= #30,182
Applied to interest== 8% of 100000= 0.08 x100,000=8000
Applied to Principal = cash payment -interest= 30192-8000= $22, 192
Principal balance at end of period=Principal Balance--applied to Principal
= 100,000 - 22,192=$ 77, 808
FOR 2019
Principal Balance = $77,808
cash payment for dec 31st= $30,182
Applied to interest== 8% of 77,808= 0.08 x77,808 =$6225
Applied to Principal = cash payment -interest= 30192-6225= $23,967
Principal balance at end of period=Principal Balance--applied to Principal
= 77,808 - 23,967=$ 53,841
FOR 2020
Principal Balance = $53,841
cash payment for dec 31st= $30,182
Applied to interest== 8% of 53,841= 0.08 x53,841 =$4307
Applied to Principal = cash payment -inbterst= 30192-4307= $25,885
Principal balance at end of period=Principal Balance--applied to Principal
= 53,841- 25,885= $27,956
FOR 2021
Principal Balance = $27,956
cash payment for dec 31st= $30,182
Applied to interest== 8% of 27,956= 0.08 x27,956 =$2236
Applied to Principal = cash payment -interest= 30192-2236= $27,956
Principal balance at end of period=Principal Balance--applied to Principal= 27,956- 27,956=0
