You borrow about $15000 from a bank at an interest rate of 8% compounded annually. You are required to make three equal payments in the amount of $5820.50 per year ,with the first repayment occurring at the end of year 1. Show the interest payment and principal payment in each year. Please complete chart till loan is paid off and expain how each answer was found.

Year	Principal Repayment	Interest Payment	Remainign Balance
0	-	-	15000
1