Consider a $9700 loan with payments every month, an APR of 9%, and a loan term of 10 years.

1. Construct a table showing the interest payment and loan balance after each month. Verify that, with monthly payments of $122.88, the loan balance reaches $0 after 120 months. 

2. How much interest is paid in the first month of the loan? How much is paid toward the principal in the first month of the loan? 

3. How much interest is paid in the last month of the loan? How much is paid toward the principal in the last month of the loan?