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On your work paper, construct the first three lines (payments 0, 1, and 2) of an amortization schedule for a $7,000 debt that is to

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On your work paper, construct the first three lines (payments 0, 1, and 2) of an amortization schedule for a $7,000 debt that is to be amortized in six equal monthly payments at 1.25% interest per month on the unpaid balance. (The columns heading should be: Payment Number, Payment, Interest, Unpaid Balance Reduction, Unpaid Balance.) Payment Number Payment Interest Unpaid Balance Reduction Unpaid Balane 0 $7,000.00 1 2

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