Qing just took out a 5-year loan of $61,000to build a swimming pool in his back yard. The loan calls for equal annual payments and has an interest rate of 8 percent per year. Given you are majoring in finance, Qing has asked you to prepare a amortization schedule for his loan.(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.)

b.Qing wants to know how much interest he will pay in the third year?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

c.Qing wants to know the total amount of interest he will pay over the life of the loan?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)