[Solution Library] on page 59 Amortization schedule Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of

Question: 34 on page 59

Amortization schedule

Set up an amortization schedule for a $25,000 loan to be repaid in equal installments
at the end of each of the next 3 years. The interest rate is 10 percent, compounded
annually.
What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Why do these percentages change over time?

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[Solution Library] on page 59 Amortization schedule Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of

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