2. At the beginning of his musical career, John Lennen took out a $200,000 loan to build a recording studio in his home. The loan had an interest rate of 7.5% and John repaid it in 4 years by making equal annual end-of year payments. a. Determine Johns annual loan payment. b. Prepare an amortization table for Johns loan. c. How much interest did John pay over the life of the loan?