Question: #30 AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $29,000 loan to be repaid in equal installments at the end of each of the

#30

#30 AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $29,000 loan

to be repaid in equal installments at the end of each of

AMORTIZATION SCHEDULE 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 11% compounded an Round all answers to the nearest cent. Repayment Ending Beginning Year BalancePaymet Interest of Principal 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. 96 Interest % Principal Year 1: Year 2: Year 3

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