a. Complete an amortization schedule for a $10,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 8% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Year 1 2 3 $ Beginning Balance % Interest $ % % Year 1: % Year 2: Year 3: I % Why do these percentages change over time? % % -Select- Payment % Principal $ b. What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations. Round your answers to two decimal places. Interest $ Repayment of Principal $ Remaining Balance I. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. II. 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 declines. III. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding 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 not change over time; interest and principal are each a constant percentage of the total payment.

2. Complete an amortization schedule for a $10,000 losn to be repaid in equal instaliments at the end of each of the next 3 years. The interest rate is 8 se compounded annually. If an amount is zero, enter " 0 ". Do not round intermediate calculations. Round your answers to the nearest cent, b. What percentage of the paymeot represents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations. Round your answers to two decimal places. wry uo onese percentages change over nme? 1. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining of outstanding balance decines. 11. These percentoges change over time because even though the tokal purment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance decines: 111. These percentages change over time because even though the total payment is canstant the amount of interest paid each vear is decining as the remaining or outstanding balance increases. IV. These percentages change over time because even though the totat payment is constant the amount of interest paid each vear is increasing as the femaining or outstanding balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment. a. Complete an amortization schedule for a $10,000 loan to be repaid in equal instaliments at the end of each of the next 3 years. The interest rate is 8% compounded annually. If an amount is zero, enter " 0 ", Do not round intermediate calculations. Round your answers to the nearest cent. b. What percentage of the payment represents interest and what percentage represents principai for each of the 3 vears? Do not round intermed iate calculations. Round you answers to two decimal places, why do these percentages change over time? 1. These percentages change over time because even though the fotal payment is constant the amount of interest paid each year is dectining as the remaining or outstanding balance declines. II. These percentoges change over bime because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance declines. 11t. These percentages change over time because even though the total puyment is constant the amount of interest pald each year is decining as the remaining or outpanding balance increases. IV. Theie percentages change over time because even though the total parment is constant the amount of interest paid each year is increasing as the femaining of Trese percentages change over tin outstanding balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total parment