Question $6$:

Prepare an amortization schedule for a five$-$year loan of $$128,000.$ The interest rate is $8\mathrm{.}5$ percent per year, and the loan calls for an equal payment reduction every year. How much payment is made on each period? How much interest is paid in the $4^{th}$ year? How much total interest is paid over the life of the loan?

$\backslash$table$[[$Year$,\backslash$table$[[$Beginning$],[$balance$]],\backslash$table$[[$Total$],[$payment$]],\backslash$table$[[$Interest$],[$paid$]],\backslash$table$[[$Principal$],[$paid$]],\backslash$table$[[$Ending$],[$Balance$]]],[1,128,000,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,],[$Total$,,,,,]]$