1. You take out a $20,000, ten-year loan. Equal payments are to be made at the end of each year at an interest rate of 10%. Calculate the appropriate loan table, showing the breakdown in each year between principal and interest.

Cost	20,000
Payment	$3,254.91
Interest	10%
Years	10
			Division of payment between:
Year	Principal at beginning of year	Payment at end of year	Interest	Principal
1
2
3
4
5
6
7
8
9
10
	0.00