ONLY the solution for 56

LO3 55 Prepare an amortization schedule for a three-year loan of $57,000. The Amortization with Equal Payments interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? Rework Problem 55 assuming that the loan agreement calls for a LO3 56 Amortization with Equal Principal Payments principal reduction of $19,000 every year instead of equal annual payments