Murray Countertops borrowed $$8000$ at an annual rate of $8\%$ to buy a used forklift. Murray amortized the loan in $4$ annual payments. Prepare an amortization schedule, using the amortization table, for the loan and use it to answer the questions.

Click here to view page $1$ of the Amortization Table. Click here to view page $2$ of the Amortization Table.

The amount of interest for the first payment period is $ $($Round to the nearest cent as needed.$)$

The portion of the second payment that is applied to reduction of the principal is $

The principal remaining at the end of the third payment period is $