Katie has just, at t=0, borrowed $22,000 from her family to attend business school. She has promised to pay it all back in 5 equal annual installments, starting one year after she finishes her college in 2 years (i.e. she will make the first installment payment at t=3). Her family considers her to be smart and conscientious and thus a good risk. Thus, they are going to charge her a rate of interest of only 5% per annum, charged annually, for all of the seven years for which she has borrowed. Note that there is a 2-year moratorium on payments only but not on interest accrual. 

Make a loan amortization schedule for this loan to show loan balance, total loan payments, principal and interest payments.