breakdown is often developed in an amortization schedule. Interest i! in the first period and over the life of the Ioan, while the principal repayment is in the first period and it thereafter. He requires an 8% annual return. a. What will be your annual loan payments? Do not round intermediate calculations. Round your answer to the nearest cent. b. How much of your first payment will be applied to interest and to principal repayment? Do not round intermediate calculations. Round your answers to the nearest cent. Principal repayment: $