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2 AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $19,000 loan to be...

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AMORTIZATION SCHEDULE a. Complete an amortization schedule for a $19,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ 2 3 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. % Interest % Principal 8 Year 1: Year 2: Year 3

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