Loan amortization schedule Personal Finance Problem Joan Messineo borrowed $50,000 at a 5% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual, end of your payments. Pay a. Calculate the annual end of year loan payment b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments c. Explain why the interest portion of each payment declines with the passage of time 7333 a. The amount of the equal, annual, end-of-year loan payment the nearest cent.) b. Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan payments. Many financial calculators have an amortation function which makes this process cosy. Once the payment is determined in step a above, you can use the AMORT function to calculate the eros paid, principal paid and ending loan balance for each payment period. You should consult your calculator instructions for specific details pertaining to your calculator What is the account balance at the beginning of year 17 (Round to the nearest cent.)