Prepare an amortization schedule for a five$-$year loan of $$67,500.$ The interest rate is $7$ percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?

Loan amount

$$,67,500$

Interest rate

Loan term

Complete the following analysis. Do not hard code values in your calculations. All answers should be positive.

Loan payment

PMT$($rate$,$ nper, pv$,[$fv$],[$type$])$

Year