Prepare an amortization schedule for a five$-$year loan of $$53,000.$ Assume the loan agreement calls for a principal reduction of $$10,600$ every year. The interest rate is $7$ percent per year. $($Do not round Intermedlate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ Leave no cells blank $-$ be certaln to enter $"0"$ wherever required.$)$

$\backslash$table$[[$Year$,\backslash$table$[[$Beginning$],[$Balance$]],$Total Payment,$\backslash$table$[[$Interest$],[$Payment$]],\backslash$table$[[$Principal$],[$Payment$]],\backslash$table$[[$Ending$],[$Balance$]]],[1,,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,]]$

How much total interest is paid over the life of the loan? $($Do not round Intermedlate calculations and round your answer to the nearest whole number, e$.$g$.,32.)$

Total interest paid