a. Complete an amortization schedule for a $20,000 loan to be repaid in equal installments...
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a. Complete an amortization schedule for a $20,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. Repayment Beginning Balance Ending Balance Year Payment Interest of Principal 1 1 $ $ $ $ $ $ N $ $ $ $ 44 3 $ $ $ $ $ nts principal for each b. What percentage of the payment represents interest and what percentage of the three years? Round all answers to two decimal places. % Interest % Principal Year 1: % % Year 2: % % Year 3: % %
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