Loan Amortization You went to Riyad Bank and borrowed SAR 79,015 at a 4% annual rate of interest to be repaid over 3 years. The loan is amortized into 3 equal, annual, end-of year payments a Calculate the annual, end-of-year loan payment. (Round: 2 dec.) SAR 28472.94 b. What portion of the payment is applied to interest in Year 2? (Round: 2 dec.) SAR c. What is the total interest paid? (Round: 2 dec.) SAR d. Explain why the interest portion of each payment declines with passage of time. (Select the best answer below) O A. Through annual end-of-the-year payments, the interest balance of the loan is declining, causing less principal to be accrued on the balance. B. Through annual end-of-the-year payments, the principal balance of the loan is increasing, causing less interest to be accrued on the balance. C. Through annual end-of-the-year payments, the principal balance of the loan is declining, causing less interest to be accrued on the balance. D. Through annual end-of-the-year payments, the principal balance of the loan is declining, causing more interest to be accrued on the balance