Find the payment necessary to amortize a 5% loan of $1100 compounded quarterly, with 6quarterly payments. Find (a) the payment necessary to amortize the loan and (b) the total payments and the total amount of interest paid based on the calculated quarterlypayments. Then create an amortization table to find(c) the total payments and total amount of interest paid based upon the amortization table. a. The quarterlypayment needed to amortize this loan is $_______. (Round to the nearest cent asneeded.)

b. The total amount of the payments is $_________.(Round to the nearest cent asneeded.)

The total amount of interest paid is $________.(Round to the nearest cent asneeded.) c. The total payment for this loan from the amortization table is $_________.

The total interest from the amortization table is $_________.