1. < Question 1 (of 4) Consider a 4-year amortizing loan. You borrow $159,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 3.58%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Time 0 Loan Balance Year-End Interest Due on Balance Year-End Payment Amortization of Loan S $ S 1 2 3 4 c-1. What is the loan balance at the end of year 1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Loan balance c-2. Is it the present value of the remaining loan payments?