Explain and show steps

23) A debt of $600 is to be repaid by two equal yearly payments with interest at the rate of 5% compounded annually. Complete the following amortization schedule for this debt. Principal outstanding at Interest Payment at end Principal repaid Period beginning of period for period of period at end of period 2 Totals Answer: Principal outstanding at Interest Payment at end Principal repaid Period beginning of period for period of period at end of period 600.00 30.00 322.68 292.68 2 307.32 15.37 322.68 307.31 Totals 45.37 645.36 599.99