Question: 2 Problem 6-58 Amortization with Equal Payments (LO4) Prepare an amortization schedule for a five-year loan of ( $ 34,000 ). The interest rate is

2 2 Problem 6-58 Amortization with Equal Payments (LO4) Prepare an amortization schedule

Problem 6-58 Amortization with Equal Payments (LO4) Prepare an amortization schedule for a five-year loan of \$ \\$ 34,000 \$. 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 \$ \\mathbf{2} \$ decimal places. Leave no cells blank - be certain to enter \"0\" 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.)

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