Prepare an amortization schedule for a five-year loan of $61,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments.

Prepare an amortization schedule for a five-year loan of $61,000. The interest rate is 8 percent per year and the loan calls for equal annual payments. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance Year 4 How much interest is paid in the third year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16) Interest paid he loan calls for equal annual payments. How much total The interest rate is 8 percent per year, and t interest is paid over the life of the loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16) Total interest paid References eBook & Resources