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a. Complete an amortization schedule for a $38,000 loan to be repaid in equal installments at the end of each of the next three years.

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a. Complete an amortization schedule for a $38,000 loan to be repaid in equal installments at the end of each of the next three years. The inte 9% compounded annually. Round all answers to the nearest cent. Repayment Ending Payment Interest ofPrincipal Balance Beginning Year Balance o. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to tw decimal places. % Interest % Principal Year 1: ear 2: Year 3: Why do these percentages change over time

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