Question: Homework 4 i 1 Saved Help Prepare an amortization schedule for a five-year loan of $58,000. The interest rate is 6 percent per year,

Homework 4 i 1 Saved Help Prepare an amortization schedule for a

Homework 4 i 1 Saved Help Prepare an amortization schedule for a five-year loan of $58,000. The interest rate is 6 percent per year, and the loan agreement calls for a principal reduction of $11,700 every year. How much total interest is paid over the life of the loan? Note: Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. 10 Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance points 1 $ 58,500 2 References 3 4 LO 5 Total Interest

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