Prepare an amortization schedule for a three$-$year loan of $$96,000.$ The interest rate is $9$ percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?

Note: Leave no cells blank. Enter $\text{'}0\text{'}$ where necessary. Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

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

$[,,$Total interest,,,$]]$

Please help me best by explaining this exact practice problem with the same numbers as it is easier to follow for practicing.

Thank you!

Nolan