If your uncle borrows $$54,000$ from the bank at $12$ percent interest over the ten$-$year life of the loan. Use Appendix D$.($Round $"$PV Factor" to $3$ decimal places. Round the interest amount and principal amount to the nearest whole dollars.$)$

a$.$ What equal annual payments must be made to discharge the loan, plus pay the bank its required rate of interest?

Annual payments $

b$.$ How much of his first payment will be applied to interest and to principal?

First payment

Interest $

Principal $

c$.$ How much of his second payment will be applied to interest and to principal?

Second payment

Interest $

Principal $