Che Problem 6-59 Amortization with Equal Principal Payments (L04) eBook Prepare an amortization schedule for a five-year loan of $42,000. The interest rate is 8% per year, and the loan agreement calls for a principal reduction of $8,400 every year instead of equal annual payments. (Enter all amount as positive value. Leave no cells blank - be certain to enter "O"; wherever required. Omit $ sign in your response.) References Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance How much interest is paid in the third year? (Omit $ sign in your response.) Interest paid $0 How much total interest is paid over the life of the loan? (Omit $ sign in your response.) Total interest paid $0