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Elegant Tuxedo Company is negotiating a $900,000 commercial loan with Your Bank. Your bar ETC a rate of 9% with LEVEL TOTAL PAYMENTS over three

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Elegant Tuxedo Company is negotiating a $900,000 commercial loan with Your Bank. Your bar ETC a rate of 9% with LEVEL TOTAL PAYMENTS over three years. Construct an amortization schedu and answer the following questions (Feel free to round to the dollar). ercial loan with Your Bank. Your Bank has quoted years. Construct an amortization schedule for this loan What is the amount of the total payment each year? What is the amount of the interest in year one? _ What is the principal payment in year two? What is the balance of the loan at the beginning of year three? What is the total amount of interest that will be paid over the life of the loan

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