. 3. (25%) 2 ABC Car Loan Company charges 0.5% interest per month for a car loan 3 Mr. John just bought a new car and got a $20,000 car loan 4 His monthly payment is $1500 5 He makes the payment at the end of each month 6 Question: 7a. Please complete the following amortization table b. What will be the ending balance after 1 year (12 fixed payments of $1500 per month.) Highlight your answer c. How many periods does he need to pay off his loan? 0.50% Beginning Balance Monthly Payment Interest Paid Principal paid Ending Balance Month