4 Check my work A bank loan requires you to pay $72,000 at the end of each of the next eight years. The interest rate is 12% a. What is the present value of these payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value $ 29,079.60 tool References b. Complete the following amortization table (Negative amounts should be indicated by a minus sign. Round your answers to nearest whole dollar amount.) Yoar 1 2 3 4 Beginning Balance Payment Interest (12%) Loan Red Ending Balance $ 72,000 $ 14.45 8,640 s 5,8547 66.146 66,148 14.494 7.938 6.566 59,590 59,590 14.494 7.151 7343 62.247 52 247 14.44 6:270 8.224 44,023 44,022 14.494 5,283 9211 34,812 34,8521 14/4941 4,1771 10.3171 21.495 5 Me Graw HIN