Chuck$$s Publishing, Inc. borrows $$30,000$ from Citicorp to finance the purchase of a new

office cooling system. The loan has an interest rate of $12\%$ and Chuck$$s will be required to

make annual payments for the next $3$ years. Fill in the following loan amortization schedule

for this transaction. $(10$ points$)$

Year Payment Interest Paid Principle paid Balance

$0---------$ $$30,000$

$1$

$2$

$3$