Loan Amortization Your company is planning to borrow $2.25 million on a 5-year, 8%, annual payment, ly amortize term loan. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places Loan Amortization Assume that your aunt sold her house on December 31, and to his close the sale she took a second mortgage in the amount of $30,000 as part of the payment. The mortgage has a quoted (or nominal interest rate of calls for payments every months, beginning on June 30, and is to be amortired over 10 years. Now, 1 year later, your aunt must inform the IRS and the person who bought the house about the interest that was included in the payments made during the year (This interest will be income to your aunt and deduction to the buyer of the house.) To the closest dollar, what is the total amount of interest that was paid during the first year? Do not round intermediate calculations. Round