1.

Complete the following table: (Use Table 15.1) (Do not round intermediate calculations. Round your answers to the nearest cent.)

						First Payment Broken Down Into
Selling price	Down payment	Amount mortgage	Rate	Years	Monthly payment	Interest	Principal	Balance at end of month
$129,000	$7,000	$	7.5%	30	$	$	$	$

2.

Bob Jones bought a new log cabin for $75,000 at 10% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)

	Portion to
Payment number	Interest	Principal	Balance of loan outstanding
1	$	$	$
2	$	$	$
3	$	$	$