Prepare an amortization schedule for a five-year loan of $42,000. The interest rate is 8% 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. Omit $ sign in your response.) Year 1 2 Beginning Balance $ 42000 34,840.8 27,108.93 18,758.47 9,730.98 Total Payment $ 10,519.17 10,519.17 10,519.17 10,519.17 10,519.17 Interest Payment $ 3,360.00 2,787.27 2.168.71 1,500.68 779.19 Principal Payment $ 7,159.17 7,731.90 8,350.46 9,018.49 9.739.98 Ending Balance $ 34,840.8 27,108.93 18,758.47 9,739.98 0 3 4 5 How much interest is paid in the third year? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Interest paid $ 2,168.71 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. Omit $ sign in your response.) Total interest $ 10,519.17