Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent per year, and the loan agreement calls for a principal reduction of $36,000 every year. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 2 3 Total interest