a. Complete an amortization schedule for a $48,000 loan to be repaid in equal installments at...

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a. Complete an amortization schedule for a $48,000 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 Year Balance Payment Interest Repayment of Principal Ending Balance 1 $ $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ $ $ 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. % Principal % Interest % % Year 1: % % Year 2: % % Year 3: a. Complete an amortization schedule for a $48,000 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 Year Balance Payment Interest Repayment of Principal Ending Balance 1 $ $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ $ $ 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. % Principal % Interest % % Year 1: % % Year 2: % % Year 3: