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 7% compounded annually. Round all answers to the nearest cent. Year Beginning Balance 1 2 3 $ $ $ Repayment Payment Interest of Principal Ending Balance 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. % Interest % Principal Year 1: % % Year 2: % % Year 3: % % 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 each year is increasing as the remaining or outstanding balance declines. III. 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 increases. IV. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment.

a. Complete an amortization schedule for a $29,000 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.   Beginning     Repayment Ending Year Balance Payment Interest of Principal Balance 1 $  fill in the blank 2 $  fill in the blank 3 $  fill in the blank 4 $  fill in the blank 5 $  fill in the blank 6 2 $  fill in the blank 7 $  fill in the blank 8 $  fill in the blank 9 $  fill in the blank 10 $  fill in the blank 11 3 $  fill in the blank 12 $  fill in the blank 13 $  fill in the blank 14 $  fill in the blank 15 $  fill in the blank 16 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.   % Interest % Principal Year 1: fill in the blank 17% fill in the blank 18% Year 2: fill in the blank 19% fill in the blank 20% Year 3: fill in the…

a. Complete an amortization schedule for a $11,000 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.   Beginning     Repayment Ending Year Balance Payment Interest of Principal Balance 1 $  fill in the blank 2 $  fill in the blank 3 $  fill in the blank 4 $  fill in the blank 5 $  fill in the blank 6 2 $  fill in the blank 7 $  fill in the blank 8 $  fill in the blank 9 $  fill in the blank 10 $  fill in the blank 11 3 $  fill in the blank 12 $  fill in the blank 13 $  fill in the blank 14 $  fill in the blank 15 $  fill in the blank 16 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.   % Interest % Principal Year 1: fill in the blank 17% fill in the blank 18% Year 2: fill in the blank 19% fill in the blank 20% Year 3: fill in the…

4) Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each of the next 3 years. Interest rate is 10% compounded annually.a. What percentage of the payment represents interest and what percentage represents principal for each of the 3 years.

Complete the next line of the schedule. 

Prepare an amortization schedule for a three-year loan of $96,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Year 1: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Year 2: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Year 3: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Total Interest for all 3 Years.

Prepare an amortization schedule for a five-year loan of $59,000. The interest rate is 7 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)  Year BeginningBalance   TotalPayment   InterestPayment   PrincipalPayment   EndingBalance 1 $     $     $     $     $   2                             3                             4                             5                               How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total interest paid           $

5.Consider a $10,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 7%. a.    Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required   Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $   $   $   5 $   $   $   $   Total $   $   $     b.      c.     How large must each annual payment be if the loan is for $20,000? Assume that the interest rate remains at 7% and that the loan is still paid off over 5 years. Round your answer to the nearest cent.$   d.    How large must each payment be if the loan is for $20,000, the interest rate is 7%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice…

Develop a complete amortization table for a loan of $4500, to be paid back in 24 uniform monthly installments, based on an interest rate of 6%. The amortization table must include the Payment Number, Principal Owed (beginning of period), Interest Owed in Each Period, Total Owed (end of each period), Principal Paid in Each Payment, Uniform Monthly Payment Amount. You must also show the equations used to calculate each column of thetable. You are encouraged to use spreadsheets. The entire table must be shown.

Complete an amortization schedule for a 542, 000 loan to be repaid in equal instaliments at the end of each of the next 3 years. The interest rate is 7% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent.