a. Complete an amortization schedule for a $42,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cent.

	BEGINNING BALANCE	PAYMENT	INTEREST	REPAYMENT OF PRINCIPAL	ENDINGBALANCE
YEAR 1
YEAR 2
YEAR 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
Year 1:	______%	_______%
Year 2:	_____%	_______%
Year 3:	______%	_______%