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a. Complete an amortization schedule for a $33,000 loan to be repaid in equal installments at the end of each of the next 3 years.
a. Complete an amortization schedule for a $33,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Remaining Balance Payment Interest of Principal Balance 1 $ $ $ $ Year $ $ $ 2 3 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 % Principal Year 1: % % Year 2: % % Year 3: % %
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