b. How much interest is paid in the third year? (Do not round intermediate calculations and...

  

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b. How much interest is paid in the third year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. 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.) b. Interest paid in third year c. Interest paid over the life of loan Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Bala 1 $ 72,000.00 $ 18,032.86 $ 5,760.00 $ 12,272.86 $ 59,7 2 59,727.14 18,032.86 4,778.17 13,254.69 46,41 3 46,472.44 18,032.86 3,717.80 14,315.07 32,15 4 32,157.37 18,032.86 2,572.59 15,460.27 16,69 5 16,697.10 18,032.86 1,335.77 16,697.10 b. How much interest is paid in the third year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. 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.) b. Interest paid in third year c. Interest paid over the life of loan Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Bala 1 $ 72,000.00 $ 18,032.86 $ 5,760.00 $ 12,272.86 $ 59,7 2 59,727.14 18,032.86 4,778.17 13,254.69 46,41 3 46,472.44 18,032.86 3,717.80 14,315.07 32,15 4 32,157.37 18,032.86 2,572.59 15,460.27 16,69 5 16,697.10 18,032.86 1,335.77 16,697.10

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Answer b To find the interest paid in the third year subtract ... View the full answer