Question: Problem 5 - 5 6 Amortization with Equal Principal Payments [ LO 3 ] Prepare an amortization schedule for a three - year loan of

Problem 5-56 Amortization with Equal Principal Payments [LO 3]
Prepare an amortization schedule for a three-year loan of $93,000. The interest rate is 8 percent per year, and the loan agreement calls for a principal reduction of $31,000 every year. How much total interest is paid over the life of the loan?
Note: Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to the nearest whole number, e.g.,32.
\table[[Year,\table[[Beginning],[Balance]],\table[[Total],[Payment]],\table[[Interest],[Payment]],\table[[Principal],[Payment]],\table[[Ending],[Balance]]],[1,,,,,],[2,,,,,],[3,,,,,],[,,,,,]]
 Problem 5-56 Amortization with Equal Principal Payments [LO 3] Prepare an

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