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Prepare an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent per year, and the loan agreement calls for a
Prepare an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent per year, and the loan agreement calls for a principal reduction of $19,000 every year. How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Leave no cells blank. You must enter ' 0 ' for the answer to grade correctly.)
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