Question: the nearest cent. Beginning Year Balance Payment $ $ $ Repayment of Principal $ $ $ Ending Balance b. What percentage of the payment represents

the nearest cent. Beginning Year Balance Payment $ $ $ Repayment

the nearest cent. Beginning Year Balance Payment $ $ $ Repayment of Principal $ $ $ Ending Balance b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. c. Why do these percentages change over time? V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment

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