Show your work as you solve the problems below. No credit will be given if logical supporting work is not provided along with the answer. Partial credit will be given for partially correct solutions. Each problem is worth 3 points unless otherwise specified. 1. Celia plans to make annual payments on a $300,000 loan. The term of the loan is 3 years. The interest rate on the loan is 9% annually. The loan payment will be $118,516 per year. Amortize the loan over its 3 year life, showing interest, principal repayment, and remaining principal balance for each year. Calculation of interest expense - show below for year 1 Calculation of principal balance remaining - show below for year 1