Loan amortization schedule Personal Finance Problem Joan Messino borrowed $43,000 at a 5% annual rate of interest to be roped over 3 years The loan is amortized into three equal annual ond of year payments a. Calculate the annual, endot.year loan payment b. Prepare a fon 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 a. The amount of the equal annua, end-of-year loan payment is $ 1578997 (Round to the nearest cent) bi Prepare a loan amortization schedule showing the interest and principal broakdown of each of the three loan payments. Many hinancial calculators have an amortization function which makes this process easy Once the payment is determined in step a above, you can use the AMORT function to calculate the interest pard principal paid and ending loan bilance for each paymont period. You should consult your calculator instructions for specific details pertaining to your calculator What is the account balance at the beginning of your 17 (Round to the nearest cont) Beginning Payments of year Loan End of year Year principal payment Interest Principal principal 1