year
1 beginning amount 100.000.00 payment 23,739.64 interest 6,000.00 Repayment of principal 17,739.64 ending balance 82,260.36
2 beginning amount 82,260.36 payment 23,739.64 interest 4,935.62 Repayment of principal 18,804.02 Ending balance 63,456.34
3 beginning amount 63,456.34 payment 23,739.64 Interest 3,807.38 Repayment of principal 19,932.26 ending balance 43,524.08
4 beginning amount 43,524.08 payment 23,739.64 interest 2,611.44 Repayment of principal 21,128.20 ending balance 22,395.89
5 beginning amount 22,395.89 payment 23,739.64 interest 1,343.75 Repayment of principal 22,395.89 ending balance 0.00. Because this payment is fixed over time, enter this annual payment amount in the payment column of the following table for all three years. Each payment consiste of two parts-interest and Repayment of principal. You can calculate the interest in year 1 by multiplying the loan balance at the beginning of the year (PVAn) by the interest rate (I) the payment of principal is equal to the payment(PMT) mimus the interest charge for three years. The interest paid in year 1 is