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Question 10 (of 10) value 0.50 points Problem 4-51 Amortization with Equal Payments Prepare an amortization schedule for a five-year loan of $62,000. The interest rate is 7 percent per year and the loan calls for equal annual payments. (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).) Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance Year 2 4 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? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).) Total interest paid References eBook & Resources