a. Complete an amortization schedule for a $16,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 9% compounded annuaily. If an amount is zero, enter O4. Do not round intermediate calculations. Round your answers to the nearest cent. 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: 1. These percentages chanoe over time because even though the total payment is constant the amount of interest paid each year is deelining as the remaining or outstanding balance dedines. 11. These persentages change over time because even though the total poyment is constant the amount of interest paid each year is increasing as the remaining or cutstanding balance declines: ii. These percentages change over time becaute even though the total payment is constant the amount of interest paid each year is decining as the remaining of. outstanding balance increates: N. 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 outstanding balance increases. V. These percentages do nat change over time, interest and principal are each constant ptrcentage of the fotat payment