Prepare an amortization schedule for a five$-$year loan of $$52,000.$ The interest rate is $9\%$ 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 $"0"$ 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.$)$

$*$Please explain with enough detail. I want to understand. Thank you.