Prepare an amortization schedule for a five$-$year loan of $$40,000.$ The interest rate is $8\%$ per year, and the loan calls for equal annual payments. $($Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to $2$ decimal places. Leave no cells blank $-$ be certain to enter $"0"$ wherever required.$)$

Year Beginning

Balance Total

Payment Interest

Payment Principal

Payment Ending

Balance

$1$ $

$

$

$

$

$2$

$3$

$4$

$5$

How much interest is paid in the third year? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Interest paid $

How much total interest is paid over the life of the loan? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Total interest $