Consider a $4-$year amortizing loan. You borrow $$290,000$ initially, and repay it in four equal annual year$-$end payments.

a$.$ If the interest rate is $3\mathrm{.}25\%,$ calculate the annual payment. $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Annual payment

$

b$.$ Prepare an amortization schedule. $($Leave no cells blank $-$ be certain to enter $"$Q$"$ wherever required. Do not round intermediate calculations. Round your answers to $2$ decimal places.$)$

$\backslash$table$[[$Time$,\backslash$table$[[$Loan$],[$Balance$]],\backslash$table$[[$Year$-$Er$],[$Due or$]],,\backslash$table$[[$Amo$],[$of$]],\backslash$table$[[$ortization$],[$f Loan$]]],[0,$$$,$$$,$$$,$$$,],[1,,,,,],[2,,,,-,],[3,,,,,],[4,,,,,]]$

c$-1.$ What is the loan balance at the end of year $1?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Loan balance