Marths Quiz a. Complete an amortization schedule for a $17,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is compounded annually. If an amount is zero, enter 0. Do not round Intermediate calculations. Round your answers to the nearest cont. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ 2 3 b. What percentage of the payment represents interest and what percentage represents prindpal for each of the three years? Do not round intermediate calculations, ou your answers to two decimal places Interest Principal Year 1: % Year 2 06 Year 3: Why do these percentages change over time? 1. These percentages change over time because even though the total payment is constant the amount of interest pald each year is declining as the remaining or outstanding balance declines. 11. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance declines. III. These percentages change over time because even though the total payment is constant the amount of interest paid each vear is declining as the remaining or outstanding balance increases IV. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance increases a 85F search HE CA o