Amortization Schedule Consider a $15,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6%. a. Set up an amortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter " 0 ". cent. $ (3) payments are spread out over twice as many periods. Do not round intermediate calculations. Round your answer to the nearest cent. $ (3) Why are these payments not half as large as the payments on the loan in part b? I. Because the payments are spread out over a shorter time period, more interest is paid on the loan, which lowers the amount of each payment. II. Because the payments are spread out over a longer time period, more interest must be paid on the loan, which raises the amount of each payment. III. Because the payments are spread out over a longer time period, more principal must be paid on the loan, which raises the amount of each payment. IV. Because the payments are spread out over a longer time period, less interest is paid on the loan, which raises the amount of each payment. V. Because the payments are spread out over a longer time period, less interest is paid on the loan, which lowers the amount of each payment. (3)