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. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.)

Year Beginning

Balance

Total

Payment

Interest

Payment

Principal

Payment

Ending

Balance

1 $

$

$

$

$

2

3

4

5

How much interest is paid in the third year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Interest paid $

How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Total interest paid $