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Set up an amortization schedule for a $30,000 loan to be repaid in equal instalments at the end of each of the next 3 years.

Set up an amortization schedule for a $30,000 loan to be repaid in equal instalments at the end of each of the next 3 years. The interest rate is 3 percent, compounded annually.
A. What percentage of the payment represents interest payment and what percentage of the payment represents principal payment for each of the 3 years?B.Why do these percentages change over time?

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