Loan amount	$759,000
Interest Rate	3%
Life	59 years
Date of Loan	January 1, 2021

Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive numbers.

Required:

1. What is the annual payment (round to the nearest $)?

$

2. What are the total interest payments (round to the nearest $)?

$

3. After 34 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)?

%

4. After 34 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)?