Amortization Schedule

Consider a $$35,000$ loan to be repaid in equal installments at the end of each of the next $5$ years. The interest rate is $11\%.$

How large must each annual payment be if the loan is for $$70,000?$ Assume that the interest rate remains at $11\%$ and that the loan is still paid off over $5$ years. Round your answer to the nearest cent.

How large must each payment be if the loan is for $$70,000,$ the interest rate is $11\%,$ and the loan is paid off in equal installments at the end of each of the next $10$ years? This loan is for the same amount as the loan in part b$,$ but the payments are spread out over twice as many periods. Round your answer to the nearest cent.

Why are these payments not half as large as the payments on the loan in part b$?$