blems 03 If your unde borrows $64.000 from the bank at 10 percent interest over the eight-year life of the loan. Use Appendix for an approximate answer but calculate your final answer using the formula and financial calculator methods What equal annual payments must be made to discharge the loan, plus pay the banks regue rate of interest Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Annual payments olie - b. How much of his first payment will be applied to interest? To principal? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Fat Payment Principal c. How much of his second payment will be apped to eachDo not round intermediate calculations. Round your final answers to 2 decimal places)