a. Complete an amortization schedule for a $50,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. Round all answers to the nearest cent.

	Beginning			Repayment	Ending
Year	Balance	Payment	Interest	of Principal	Balance

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

years 1 2 and 3

G H I J K L M N O 1 Formulas Year 1 NU ULU Beginning Balance #N/A #NA #N/A Payment #NA #N/A #N/A Interest #N/A #N/A #N/A Repayment of Principal #N/A #N/A #N/A Remaining Balance #N/A #N/A #N/A b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Year Representing Interest Principal Check: Total = 100% 1 #N/A #N/A #N/A 2 #NA #N/A #N/A #N/A #N/A #N/A U ULU U W Sheet1 Amortization schedule Loan amount to be repaid (PV) Interest rate (0) Length of loan (in years) $50,000.00 11.00% 3 a. Setting up amortization table Calculation of loan payment Formula #N/A Repayment of Principal Year Beginning Balance Payment Interest Remaining Balance UWNO b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Interest Payment % Representing Principal Year Check: Total = 100% 1 3 Sheet1 6