Murray Countertops borrowed $6500 at an annual rate of 8% to buy a used forklift. Murray amortized the loan in 4 annual payments Prepare an amortization schedule, using the amortization table, for the...

Extracted text: Murray Countertops borrowed $6500 at an annual rate of 8% to buy a used forklift. Murray amortized the loan in 4 annual payments Prepare an amortization schedule, using the amortization table, for the loan and use it to answer the questions. Click here to view page 1 of the Amortization Table. Click here to view page 2 of the Amortization Table. The amount of interest for the first payment period is $ 520 (Round to the nearost cent as needed) The portion of the second payment that is applied to reduction of the principal is $