Prepare an amortization schedule for a five-year loan of $71,000. The interest rate is 7 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.)

Beginning Balance Total Payment Payment Interest Payment Principal Ending Balance

Year

1 $_________ $__________ $_________ $____________ $__________

2 $_________ $___________ $___________ $____________ $___________

3 $__________ $___________ $___________ $____________ $____________

4 $__________ $__________ $___________ $____________ $_________

5 $__________ $__________ $___________ $____________ $_____________

Payment Ending Balance