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Open spreadsheet a. Complete an amortization schedule for a $40,000 loan to be repaid in equal installments at the end of each of the next
Open spreadsheet a. Complete an amortization schedule for a $40,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cent. b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. c. Why do these percentages change over time
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