eBook Problem Walk-Through a. Complete an amortization schedule for a $34,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 9% compol Beginning Balance Year Payment Repayment of Principal Remaining Balance Interest 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 % Principal % Interest Year 1: % Year 2: % % % 96 Year 3: Why do these percentages change over time? 1. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining 11. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining III. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining a IV. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment. -Select- Ofcom ik-Through 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 Repayment Remaining Interest of Principal Balance $ percentage represents principal for each of the 3 years? Do not round Intermediate calculations. Round your answers to two decimal places. the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance declines. the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance increases. the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding balance increases -incipal are each a constant percentage of the total payment. rate is 9% compounded annually. If an amount is zero, enter "o" Do not round Intermediate calculations. Round your answers to the nearest cent. diate calculations. Round your answers to two decimal places. as the remaining or outstanding balance declines. g as the remaining or outstanding balance declines. as the remaining or outstanding balance increases. as the remaining or outstanding balance increases