There is a five-year loan of $60,000. Assume the interest rate is 4 percent per year and the loan agreement calls for equal principal payments annually. Please answer the following 3 questions: What is the principal payment in year 2 ? Sample answer format: 16,435.67 (no dollar sign: no negative sign) Question 7 What is the interest payment in year 2 ? Sample answer format: 16,435.67 (no dollar sign; no negative sign) Question 8 What is the total payment in year 3 ? Sample answer format: 16,435.67 (no dollar sign; no negative sign)