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1. Suppose that you take out a one-year loan today. This is to be repaid by payments every 3 months with the first payment in

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1. Suppose that you take out a one-year loan today. This is to be repaid by payments every 3 months with the first payment in 3 months. The interest rate charged by the loan is 12% compounded quarterly. Each payment is $250. Fill out the whole amortization table below. Round your answers to the nearest penny. Payment Principle Number Payment Interest Repaid Balance 0 1 250 2 250 3 250 4 250 0

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