Question: D E F G H 3 Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and

D E F G H 3 Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? 5 7 8 9 Loan amount $ Interest rate Loan term 67,500 7% 5 10 11 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. 12 Loan payment 14 25 16 17 TM Year Beginning balance 1 Total payment Interest paid Principal paid Ending balance 2 2

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