a. Complete an amortization schedule for a $27,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 8% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance $ 27,000 $ 10,477 2,160 8,317 $ I 18,683 $ 18,683 $ 10,477 1,495 $ 8,982 Numeric field 9,701 10,477 $ 776 X $ 9,701 0 1 $ $ 2 $ 3 $ $ b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. % Interest % Principal 20.62% Year 1: 79.38 % Year 2: 14.27 % 85.73 % Back Next