a. Complete an amortization schedule for a $44,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 9% compounded annually. Rouind all answers to the nearest cent, b. What percentage of the psyment represents interest and what percentage represents principal for each of the three years? Round all 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 of interest paid eoch year is declining as the remaining of outstanding balance declines. 11. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remsining or outstanding balance declines. c. Why do these percentages change over time? 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. 11. These percentages change over time becouse 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 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 increases. IV. 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 eutstanding balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment. b. Calculating % of Payment Representing Interest and Principal for Each Year