Loan interest deductions Luz Rogutud a 9,000 business contratti tepay in three equal, one of year payments. The interest rate on the loan 13%. As part of her detailed financial planning, Liz wishes to determine the annual interest deduction attributable to the loon (Because is a business on the Interest portion of each payment is as decudible to the business. 1. Determine the firm's rulon payment b. Prepare an amortization schedule for the loan e. How much interest expense wil Liza have in each of the next 3 years out of the lar? The mount of the few equal, atre, end of your loan payment is round to the neurokoont) D. Prepare a tomamortion schedule showing the wterest and prepal breakdown of each of the three loan payment any financial calculators have an anotiation function which makes the process easy. Once the payment is determined in step aatove, you can use the AMORT function to calculate enteret paid, principal pad and ending in balance for each payment period. You should consult you calculator instructions for specific details pertaining to your calculator What is the account honest the beginning of year 12 (Round to the resort Beginning Payments year Loan End-ofya End-otyw principal payment Principal principal What is the amount of the parent the end of year 17 (Round to the nearest cent Beginning ofya Loan Payments End-of-year Ende principal payment Principal principal 50.000 What is the portion of the payment that is appled to restiny 12 Round to the nearest cont End-of your Beginning of your principal $9.000 Loan payment 53.81170 Payments Interest Principal End-of-year principal . What is the portion of the payment that is applied to the pnncipal in year 1? (Round to the nearest cent.) Beginning- Payments of-year Loan End-of-year End-of-year principal payment Interest Principal principal $9,000 $3,811.70 $1,170.00 What is the principal balance at the end of year 1? (Round to the nearest cent.) End-of-year Beginning- of-year principal $9,000 Loan payment $3,811.70 Payments Interest Principal $1,170.00 $2,641.70 End-of-year principal What is the account balance at the beginning of year 2? (Round to the nearest cent.) Beginning- of-year Payments Loan End-of-year principal payment Interest Principal $9,000 $3,811.70 $1,170.00 $2,641.70 2 End-of-year principal $6,358.30 What is the amount of the loan payment at the end of year 2? (Round to the nearest cent.) Beginning- of-year Payments Loan End-of-year End-of-year principal payment Interest Principal principal $9,000 $3,811.70 $1,170.00 $2,641.70 $6,358.30 1