Complete an amortization schedule for a $46,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. 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.

a. Complete an amortization schedule for a $46,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. Beginning Ending Repayment of Principal Year Balance Payment Interest Balance $ 1 $ $ $ 46000 g $ $ 2 $ $ $ $ $ 3 $ $ $ . 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: % %