Question: Construct an amortization schedule for a $5,000 loan to a customer at 5% p.a. interest rate. The customer is to repay the loan in three

Construct an amortization schedule for a $5,000 loan to a customer

Construct an amortization schedule for a $5,000 loan to a customer at 5% p.a. interest rate. The customer is to repay the loan in three equal annual installments at the end of each year. (Hint: amortization schedule includes columns for: Year, Beginning Balance, Payment, Interest, Repayment of Principal, and Ending Balance) What is the interest paid by the customer in the 3rd year? O $92.63 $136.04 $103.36 o o O $87.43

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