### Part 1: Prepare two loan amortization schedules based on the terms below. The first amortization schedule should reflect equal annual payments .

**Part 1:**Prepare **two** loan amortization schedules based on the terms below. The first amortization schedule should reflect **equal annual payments**. The second amortization schedule should reflect **equal annual principal payments**. Loan Terms:

- Loan – 750,000
- interest – 9 percent
- Term: 10 years with annual payments

Answer questions based off the two charts above:

- In the amortization schedule with equal principal payments, what was the annual payment in year 3?
- In the amortization schedule with equal payments, what is the balance of the loan at the end of year 5?
- In what year(s) is the interest payment is the same under both the amortization schedule with equal payments and the amortization schedule with equal principal payments?
- In the amortization schedule with equal payments, how much more (less) interest was paid compared to the amortization schedule with equal principal payments?