Problem $6-55$ Amortization with Equal Payments $[$LO$3]$

Prepare an amortization schedule for a five$-$year loan of $$65,000.$ The interest rate is $7$ percent per year, and the loan calls for equal annual payments. $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Leave no cells blank $-$ be certain to enter $"0"$ wherever required.$)$

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

b$.$ How much interest is paid in the third year? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$ How much total interest is paid over the life of the loan? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ Interest paid in third year

c$.$ Interest paid over the life of loan