a. Complete an amortization schedule for a $33,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round answers to two decimal places. c. Why do these percentages change over time? I. These percentages change over time because even though the total payment is constant the amount in each in remaining or outstanding balance declines. remaining or outstanding balance declines. remaining or outstanding balance increases. 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. Amortization schedule b. Calculating \% of Payment Representing Interest and Principal for Each Year b. Calculating \% of Payment Representing Interest and Principal for Each Year \begin{tabular}{c|c|c|c} & Payment \% Representing Interest & Payment % Representing Principal & Check: Total = 100% \\ \hline Year & # NA & #N/A & #N/A \\ \hline 1 & #N/A & #N/A & #N/A \\ 2 & #N/A & #N/A & #N/A \end{tabular}