Question: help! Problem 5-55 Amortization with Equal Payments [LO 3] Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent

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Problem 5-55 Amortization with Equal Payments [LO 3] Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter 'O' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year Total Payment Interest Payment Principal Payment Ending Balance 1 $ Beginning Balance 108,000.00 75,054.00 39,143.00 75,054.00 39,143.00 2 3 Total interest

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