Consider a 5-year amortizing loan. Suppose that Fountain Bank has provided John with an amortization Ioan for $160,000. John will repay the loan by making equal annual year-end payments for five years. The first repayment will begin one year from now. The interest rate on the loan is 12% per year. a. Draw the amortization schedule/table (as shown below) in your answer sheet and fill in the columns for: beginning balance, annual payment, interest paid, principal baid and ending balance for each vear. Show your workings of how you can get the figures of annual payment, interest paid, principal paid and the ending balance. 17 marks b. Find the amount of outstanding loan that is still owed to Fountain bank after the second loan repayment. Use the PV Annuity formula to work out your answers. 3 marks