Prepare an amortization schedule for a three year loan of $78,000. The interest rate is 11 percent per year, and the loan agreement calls for a principal reduction of $26,000 every year. How much total interest is paid over the life of the loan? Note: Leave no cells blank. Enter ' O ' where necessary. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32 You want to buy a new sports car from Muscle Motors for $43,400. The contract is in the form of a 60 -month annuity due at an APR of 6.65 percent. What will your monthly payment be? Note: Do not round intermediate calculations and round your answer to 2 degimal places, e.g., 32.16. An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows; The purchaser (say, the parent) makes the following six payments to the insurance company: After the child's sixth birthday, no more payments are made. When the child reaches age 65 . he or she receives $240,000 If the relevant interest rate is 10 percent for the first six years and 6 percent for all subsequent years, what is the value of the policy at the child's 65 th birthday? Note: Do not round intermediate calculations and round your answer to 2 decimal ploces, e.9., 32.16 . Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Note: Leave no cells blank. Enter ' O ' where necessary. Do not round intermediate calculations and round your answers to 2 decimal ploces, e.g., 32.16