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Prepare an amortization schedule for a five-year loan of $51,000. The interest rate is 8% per year, and the loan calls for equal annual payments. (Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Year 1 2 3 4 5 Beginning Balance $ Total Payment $ Total interest Interest Payment $ $ Principal Payment $ How much interest is paid in the third year? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Interest paid Ending Balance $ How much total interest is paid over the life of the loan? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Prepare an amortization schedule for a five-year loan of $51,000. The interest rate is 8% per year, and the loan calis for equal annual poyments. (Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to 2 decimal places. Leave no cells blank - be certain to enter "O" wherever required.) How much interest is paid in the third year? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Interest paid How much total interest is paid over the life of the loan? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Total interest

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