Excel template - Saved ale Home Insert Data Review View Help Tell me what you want to do Amortization schedule Loan amount to be repaid (PV) Interest rate () Length of loan (in years) $23,000.00 10.00% a. Setting up amortization table Calculation of loan payment Formula UNA Year Beginning Balance Repayment of Principal Payment Interest Remaining Balance b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Interest Payment % Representing Principal Check Total 100% ON Formulas Repayment of Principal Beginning Balance Payment Interest Remaining Balance Sheet1 c. 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 or outstanding balance declines. II. 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 or outstanding balance declines. 111. 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 or outstanding balance increases. TV. 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 or outstanding balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment