Create a loan repayment schedule for a loan of $300,000 and payments of $1000 made biweekly. Assume a rate of interest of 6.25% per year compounded annually. Include only the first 3 rows and the last 3 rows of the schedule.

a What is the interest portion of the first payment?

b What is the balance after the first payment?

c What is the principle portion of the first payment?

d What is the principle portion of the final payment?

e What is the interest portion of the final payment?

f What is the final payment?

g How much interest was paid?