3 cBook Problem Walk-Through Complete an amortization schedule for a $22,000 loan to be repaid in equal installments at the end of each of the next years. The interest rate is 125 compounded annually 11 30 amount is zero, enter O) Do not round intermediate calculations, Round your answers to the nearest cent Beginning Repayment Remaining Year Balance Payment Interest Parcoal Balance 1 s $ 2 . What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations. Hound your answers to two decimal places Interest Principal Year 1 Year Year Why do the percentages change over time? These percentage change over time because even though the total payment is constant the amount of interest prachyar dining as the remaining outstanding balance decine 11 These percentages change over time because even though the total payment is constant the amount of interest and each year is increasing as the remaining or outstanding balance declines III. The percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaning on outstanding balance in IV These percentages change over time even though the total payment is constant the amount of interest and each year is increasing the remaining outstanding balance nese V. These percentages do not change over time interest and principal are each a constant percentage of the total payment Select