Tear 1 2 3 LA $ $ $ Year 1: Year 2: Dalarice Year 3: 34000 23826.76 12534.46 % Interest 1% % $ % $ rayment 13,913.24 13913.24 13913.24 % Principal % % $ % $ Interest 3740 2620.94 1378.79 $ U Principal 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. 10173.24 11292.30 12534.45 $ $ $ Daldnice 23826.76 12534.46 0 c. Why do these percentages change over time? I. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. II. These percentages change over time because even though the total payment is constant the amount of interest paid N A A- of