Prepare an amortization schedule for a five-year loan of $67,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments

Year	Beginning Balance	Total Payment	Interest Payment	Principal Payment	Ending Balance
1	$	$	$	$	$
2
3
4
5

The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? How much interest is paid in the third year?