blem 5.34 (Amortization Schedule) eBook 11 Problem Walk-Through a. Complete an amortization schedule for a $24,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 9% compounded annually. If an amount is zero, enter "0". Do not round Intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Remaining Payment Interest of Principal Balance Balance Year 1 $ $ $ $ 2. 3 b. What percentage of the payment represents Interest and what percentage represents principal for each of the 3 years? Do not round Intermediate calculations. Round your answers to two decimal places. Interest 96 Principal Year 1: 96 96 Year 2 Year 3: 96 96 Why do these percentages change over time? 5.19