Question: Problem 6-56 Amortization with Equal Principal Payments [LO3] Prepare an amortization schedule for a five-year loan of $59,000. Assume the loan agreement calls for a

Problem 6-56 Amortization with Equal Principal Payments [LO3] Prepare an amortization schedule for a five-year loan of $59,000. Assume the loan agreement calls for a principal reduction of $11,800 every year. The interest rate is 7 percent per year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.)

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