Question: Problem 5-55 Amortization with Equal Payments [LO 3] Prepare an amortization schedule for a three-year loan of $99,000. The interest rate is 10 percent

Problem 5-55 Amortization with Equal Payments [LO 3] Prepare an amortization schedule for a three-year loan of $99,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter 'O' where necessary. Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Beginning Year Balance Total Payment Interest Principal Ending Payment Payment Balance 1 $ 99,000.00 $ 4,950.00 $ 9,900.00 2 3 Total interest

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