16. Below is an amortization table. In a text box, answer the following questions: a. In your own words, explain what the first four rows represent and how the loan payment was calculated. b. Give an example of what this loan could be for. Be specific. c. In your own words, explain each amount and how it was calculated in Year 1's row. Explain it as you would to someone who has never taken this class. d. How much interest was paid in total for borrowing this money? e. How much money will be paid back to the lender in total? 10,000 0.065 Loan Amount Interest Rate Loan Term Loan Payment Amortization Table $2,406.35 Year Beginning Balance 1 $ 10,000.00 2 $ 8,243.65 3 $ 6,373.15 4 $ 4,381.06 5 $ 2,259.48 Total Interest Payment Paid $2,406.35 $ 650.00 $2,406.35 S 535.84 $2,406.35 S 41425 $2,406.35 $ 284.77 $2,406.35 S 146.87 $12,031.73 $ 2,031.73 Principal Paid $1,756.35 $1,870.51 $1,992.09 $2,121.58 $2,259.48 $10,000.00 Ending Balance $ 8,243.65 $ 6,373.15 $ 4,381.06 $ 2.259.48 $ . Totals