In completing an amortization schedule, the payments are in amount.

The interest payments are calculated as a constant percentage of the loan's outstanding balance. The amount applied to the repayment of principal is over the life of the loan.

Your dream is coming true! You are about to complete the purchase of your first home. To do so$,$ you will borrow $$150,000$ from a savings and loan association that requires an interest rate of $8\mathrm{.}00\%$ on your loan. To simplify your workload, assume that you will repay your mortgage loand over the next four years by making annual payments at the end of each year.

Complete the first row of the following loan amortization table by selecting the correct answers:

Year Beginning Amount Payment Interest Repayment of Principal Ending Balance

TOTAL SCORE: $\frac{0}{4}$

$($to complete this step and uniock the next slep$)$

Search