Amortization schedule a. Set up an amortization schedule for a $13,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 8% compounded annually. Round all answers to the nearest cent. Remaining Beginning Balance Year Payment Balance 1 $ $ $ 2 $ $ $ 3 $ $ $ b. What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Round all answers to two decimal places. % Interest % Principal Year 1: % % Year 2: % % Year 3: % %