# Prepare an amortization schedule for a five-year loan of $59,000. The interest rate is 7 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year BeginningBalance TotalPayment InterestPayment PrincipalPayment EndingBalance 1$             2                             3                             4                             5                               How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total interest paid           $Question Prepare an amortization schedule for a five-year loan of$59,000. The interest rate is 7 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

 Year BeginningBalance TotalPayment InterestPayment PrincipalPayment EndingBalance 1   $2 3 4 5 How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total interest paid$