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a. Complete an amortization schedule for a $47,000 ioan to be repoid in equal installments at the end of each of the next 3 years. The interest rate is 9% compounded annually. If an amount is zero, enter 0. Do not round intermediate calculations. Round your answers to the nearest cent. b. What percentage of the payment rephesents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations. Round your answers to two decimal places. Why 60 these percentages change over amer 1. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as These percentages change over time because even the remaining or outstanding balance declines. II. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing These percentages change over time because even as the remaining or outstanding balance declines. III. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as These percentages change over time because even the reming or outstanding balance increases. IV. These percentages change over time because even though the total payment is constant the amount of interest paid each yoar is increasing as the remaining or outstanding balance increases. . These percentages do not change over time; interest and princpal are each a constant percentage of the total payment

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