You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest)

Loan amount	$985,000
Interest Rate	12.7%
Life	60 years
Date of Loan	January 1, 2021

Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem.

$ 7. After 33 payments have been made, what percentage of the total interest has been paid (round to the nearest percentage point)? % 8. After 33 payments have been made, what percentage of the total principal has been paid (round to the nearest percentage point)