An aspiring entrepreneur obtains a 3-year, $50,000 loan at 6% per year. The loan will fully amortize in the 3 years with interest and principal payments due at the end of each year. Complete the following amortization schedule for the FIRST YEAR of the loan. IMPORTANT: Do NOT include the dollar sign. Do NOT include commas. Round to TWO DECIMAL points. For example, for an amortization payment of $12,345.678, you would enter 12345.68. For an amortization payment of $76,543.210 you would enter 76543.21. For an amortization payment of $1,000 enter 1000.00

Beginning principal:

Annual amortization

payment: Interest payment:

Principal payment:

Ending principal balance: