Question: 15. This question is worth 16 points. Construct an amortization schedule for a $2,000, 6% annual rate loan with 3 equal payments. (Use the table

15. This question is worth 16 points. Construct an amortization schedule for a $2,000, 6% annual rate loan with 3 equal payments. (Use the table below to answer your question, and fill the empty cells). This question will be graded as follows: (i) calculate PMT correctly: 4 points (ii) calculate all first-year numbers correctly: 4 points (iii) calculate all second-year numbers correctly: 4 points (iv) calculate all third-year numbers correctly: 4 points [Hint 1: Compute PMT using financial calculator or MS Excel. PMT would be same for all years) [Hint 2: BEG BAL is the END BAL of previous year) Year BEG BAL PMT INT (Annual ratex BEG BAL) PRIN (PMT - INT) END BAL (BEG BAL -PRIN) 2,000 2 3

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