ume that you will have a 10-year, $10,000 loan to repay to your parents when you graduate from college next month. The loan, plus 8 percent annual interest on the unpaid balance, is to be repaid in 10 annual installments of $1,490 each, beginning one year after you graduate. You have accepted a well-paying job and are considering an early settlement of the entire unpaid balance in just three years (immediately after making the third annual payment of $1,490). EXERCISE 10.1 You as a Student Ass Prepare an amortization schedule showing how much money you will need to save to pay your parents the entire unpaid balance of your loan three years after your graduation. (Round amounts to the nearest dollar.)