3 Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? 4 5 6 7 Loan amount $ Interest rate Loan term 67,500 7% 5 8 9 10 11 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 12 14 15 13 Loan payment! Year Beginning balance 1 $ 67,500.00 2 3 Total payment Interest paid Principal paid Ending balance $ 4,725.00 16 17 18 19 4 20 21 22 Total interest paid 23 24