a. Compiete an amortization schedule for a $34,000 loan to be repaid in equal installments at the end of each of the next 3 vears. The interest rate is 7% compounded annually, If an amount is zero, enter " 0 ", Do not round intermediate calculabons. Round your answers to the nearest cent: b. What percentage of the payment represents interest and what percentage represents peincipal for each of the 3 years? Do not round intermediate calculations. Round you answers to two decimal places. 1. These percenteges change over time because even though the total payment is constant the amount of interest paid each year is decining as the remaining of outstanding balance declines. 11. These percentapes change over time becouse even though the toeal poyment is constant the amount of interest paid each veor is increasing as the remaining or outstanding balance decines. 111. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the renaining or butstanding balance increases. IV. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance increases. V. These percentages do noc change over time; interest and princlpal are each a constant percentage of the total payment