2. (10 points) What will be the remaining principal balance at the end of the second year? 3. (10 points) What will be the interest rate payment for the third year? 31 Page AMORTIZATION QUESTIONS 1. (10 points) You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized over 3 years and the nominal interest rate will be 9%. Construct an amortization table showing the fixed payment, the beginning year principal payment, the interest payment, and the ending principal balance for each year. Note that you will get a partial credit if you just show numbers off from your financial calculator. 21 Page