1. Compute an amortization schedule for a $25000, 10 year annual amortization loan, paying 7.4%. Payments are to be made at the beginning of the year. Suppose that you are only able to pay $2900 in the seventh year, how much principal will remain after that payment?

$8000-$8500

$8500-$9000

> $9500

<$8000

$9000-$9500

2. Compute an amortization schedule for a $50000, 10 year annual amortization loan, paying 6.5%. Payments are to be made at the beginning of the year. Suppose that you are only able to pay $4800 in the eighth year, how much principal will remain after that payment?

Group of answer choices

$13500-$14000

$13000-$13500

> $14000

<$12500

$12500-$13000