a. Complete an amortization schedule for a $32,000 loan to be repaid in equal instaliments at the end of each of the next 3 years: The interest rate is 12% compounded annually. If an amount is zero, enter " 0 ". Do not round intermediate calculations. Round your answers to the neare 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 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 chenge 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 increosing as the remaining or outstanding balance increases. V. These percenteges do not change over time; interest and principal are each a constant percentage of the total payment