Prepare an amortization schedule for a five-year loan of $70,000. The interest rate is 9 percent per year, and the loan calls fo
r equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 $ $ $ $ $ 2 3 4 5 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., 32.16.) Total interest paid $
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