You took a student loan of $60,000 from a bank on 1/1/2016. Suppose you want to pay off your student loan in 4 years with equal annual payments. The first payment will be made one year after you took the loan. Assume the interest rate on the student loan is 4.36%. a. Create an amortized loan schedule using the table below. Calculate the principal remaining on the loan at the beginning of each year and the split of each year’s payment between interest and repayment of principle. Label each column clearly. You may use Excel to do the calculations, but you must fill in the table on this page (or print your Excel worksheet out and paste it here). Please do NOT send me your Excel file. Year Beginning Balance Annual Payment Interest Payment Principal Payment Ending Balance 1 2 3 4 b. How much interest will you need to pay in total? What will affect the total amount of interest that you will pay?