If your uncle borrows $$69,000$ from the bank at $11$ percent interest over the nine$-$year life of the loan. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

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

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places.

Annual payments

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

Note: Do not round intermediate calculations. Round your final answers to $2$ decimal places.

$\backslash$table$[[,$First Payment$],[$Interest$,],[$Principal$,]]$

c$.$ How much of his second payment will be applied to each?

Note: Do not round intermediate calculations. Round your final answers to $2$ decimal places.

$\backslash$table$[[,$Second Payment$],[$Interest$,],[$Principal$,]]$