for grading Chapter 56 Help Save & Exie Consider a 4-year amortizing loan You borrow $1,100 initially and repay it in four equal annual year-end payments a. If the interest rate is 9%, what is the annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment $ 339 54 b. Prepare an amortization schedule. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank.be certain to enter "0" wherever required.) Time Loan Balance (5) Year-End Interest Due on Loan Balance (5) Total Year-End Payment (5) Amortization of Loan (5) 0 1.100.00 1 2 3 4