Joan Massino borrowed $44,000 at a 7% annual rate of interest to be repaid over 3 years. The loan is amoritized into three equal, annual, end of year payments.

A) Calculate the annual, end of year loan payment.

B) Prepare a lian amortization schedule showing the interest and princupal breakdown of each of the three loan payments.

C) Explain why the interest portion of each payment declines with passage of time

P5-48 (similar to) Loan amortization schedule Personal Finance Problem Joan Mossino borrowed 544.000 ara 7% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal anual and of year payments a. Calculate the annual and of year loan payment b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the the own payments c. Explain why the inforest portion of each payment declines with the passage of time The amount of the equal, annue, end of year loan payment is found to the nearest cone) core: 0 of 30 pts 5 of 5 (4 complete HW SC 5.48 (similar to) Loan amortization schedule Personal Finance Problem Joan Mossino borrowed 544.000 a 7 annuwateterest to be paid over 3 years. The ban is amortired into two equat anu and of your payments a. Calculate the annual end of year loan payment b. Prepare a loan amortation schedule showing the interest and principal brokdown of each of the three ban payments c. Explain why the interest portion of each payment doces with the passage of time a. The amount of the equal, annus, and of year loan payment is (Round to the newest cont)