Prepare an amortization schedule for a five$-$year loan of $$47,000.$ The interest rate is $7\%$ per year, and the loan calls for equal annual payments. $($Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to $2$ decimal places. Leave no cells blank $-$ be certain to enter $"$O$"$ wherever required.$)$

How much interest is paid in the third year? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Interest paid

$

How much total interest is paid over the life of the loan? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Total interest

$