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Amortization Schedule Consider a $40,000 loan to be repaid in equal instaliments at the end of each of the next 5 years. The interest rate is 10% a. Set up an arvortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter " 0 ". b. How large must ench annual poyment be if the loan is for $80,0007 Assume that the interest rate remains of 10% and that the loan is still gaid off over 5 years. Do not round intermediate calculatioms. Pound your anawer to the neareit cent. 3 C. Mow large must each parment be if the loen is for $90,000, the interest rate is 10%, and the foan is paid off in equal instaliments as the end of each of the nest 10 years? This Joan is for the same amount as the loan in port b, but due payments are spread out over twice es many penods. Do not round intarmediato calculations-Round vour anwwer to the nearest cent is Why ore these pavoments not half as large os the poyments on the loan in part b? I. Because the payments are spered out over o shorter time period, morn interest is paid on the foan, which lowers the amount of each poyment. of coach porment. III. Because the perments are spresd out gver a fonger time period, more prineipel must be pald on the loan, which ralses the amoluht ot each payment. IV. Because the payments are spmead out over a fonger time penod, less interest is paid on the loan, which zastes the ambunt of each poyment. wayment