4. Julie and John Aggie want to purchase 80 acres of farm land valued at $1,500 per acre. Their lender requires a 30% down payment. Assume twenty annual payments. The interest rate is 7.5%. a. Calculate the schedule of interest and principal payment over the life of the loan using the constant payment method and the constant payment on principal method. Year Constant Payment Method Loan Balance Payment Interest Principal End of Year Balance $84,000.00 $8,239.74 $82,060.26 48,262.68 12 13 14 15 14,795.00 18 19 20 Total Interest Paid Constant Payment on Principal Method Loan Balance Payment Interest Year Principal End of Year Balance $84,000.00 2 5 TL 58,800.00 7 8 10 2,835.00 12 13 13 14 15 16 17 18 19 0.00 Total Interest Paid $66,150.00 b. What is the total interest paid over the life of the loan with each method