Using the following loan amortization table, calculate the amount of interest paid over the term of the loan. (Hint: Using scratch paper, complete the amortization table which will enable you to determine the amount of interest paid out over the term period (BOX A). Select the answer from the multiple choice selections. Round your answer to the nearest dollar. Quoted Rate Compound Period Term Loan Amount 10% Annual 3 Years 20,000 $8,042.30 pmt Beginning Bal Interest Principal Ending Bal Year 1 2 3 Total Interest Paid BOX A Multiple Choice O $3.998 $5,098 $4,127 None of the above are correct