Chapter 05 i 6 2 points Skipped eBook References Saved Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round Intermediate calculations and round your answers to 2 decimal places, e.g.. 32.16.) Interest Principal Ending Year Beginning Balance Total Payment Payment Payment Balance 1 2 3 Total interest Chapter 05 i 5 1 points Skipped eBook Hint References Saved First American Bank charges 11.1 percent compounded monthly on its business loans. First Fifth Bank charges 11.3 percent compounded semiannually. Calculate the EAR for each bank. (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) First National Bank % First United Bank % As a potential borrower, which bank would you go to for a new loan? 4 Your parents are giving you $235 a month for 4 years while you are in college. At an interest rate of 54 percent per month, what are these payments worth to you when you first start college? Multiple Choice ped ences $9,41755 $9731.75 $12.837.51 $9.58277 $9.913 22 ances Help Save & Ex One year ago, the Jenkins Center deposited $4.800 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6.600 to this account. They plan on making a final deposit of $8.800 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 9 percent? Multiple Choice $26.93583 O$20.00 9 O$26.07759 $25,415.70 $27105.42