Construct 2 rows of the amortization schedule for a $2,000 debt that is to be amortized in eightequalquarterly payments at 1.5% interestperquarter on the unpaid balance.

1. Calculate quarterly $PMT first .

2. Calculate the values of other cells and fill the blank cells.

Round PMT and value of each cell to the nearest cent, 2 d.p. before moving on.

Payment Number	PMT($)	Interest on UB($)	Unpaid balance reduction ($)	Unpaid balance($)
0				$Answer
1	$Answer	$Answer	$Answer	$Answer
2	$Answer	$Answer	$Answer	$Answer