Assume that you will have a 10-year, $19,000 loan to repay whenyou graduate from college next month. The loan, plus 6 percentannual interest on the unpaid balance, is to be repaid in 10 annualinstallments of $2,581 each, beginning one year after you graduate.You have accepted a well-paying job and are considering an earlysettlement of the entire unpaid balance in just three years(immediately after making the third annual payment of $2,581).Prepare an amortization schedule showing how much money you willneed to save to pay the entire unpaid balance of your loan threeyears after your graduation. (Round your answers to the nearestdollar amount. Enter all amounts as positivenumbers.)
