Please help

1. (14). Construct an amortization schedule for a $1000, 6% quoted annual rate (I_NOM) loan with 3 equal payments. This is the same as an example on #38 except the interest rate. To answer the following questions, refer to slides #39 #45. Two points each for questions (a) through (e).

a. Find the annual payments of this loan.

b. Find the interest paid in Year 1 and the principal repaid in Year 1

c. Find the ending balance after Year 1 (or beginning balance in Year 2).

d. Find the interest paid in Year 2 and the principal repaid in Year 2.

e. Find the ending balance after Year 2 (or beginning balance in Year 3).

G. (4) Construct a similar table as shown in #43. You do NOT need to use a table format (though you can) to show this table.

# 43 example

YEAR 1 2 BEG BAL PMT $1,000 $ 360 680 360 347 360 $1,081 INT $40 27 14 $81 PRIN $ 320 333 347 $1,000 END BAL $680 347 0 TOTAL