epare an amortization schedule for a five-year loan of $62.000. Assume the loan agreement calls for a principal reduction of $12,400 every year. The interest rate is 7 percent per year. (Do not round intermediate calculations and round your answers to 2 decimai places, eg3216 Leave no cells blank -be certain to enter "o" wherever required.) Total Payment Interest Principal Payment Ending Balance Year How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g 32) Total interest paid