Question: 13. Complete the amortization schedule below for a fixed rate, fully amortizing mortgage loan for $300,000 at 5% annual interest for 15 years. Amortization Schedule

13. Complete the amortization schedule below for a fixed rate, fully amortizing mortgage loan for $300,000 at 5% annual interest for 15 years.
Amortization Schedule
Month Payment Interest Principal Loan Balance
0 0 0 0 $300,000.00
1 $2,372.44 $1,260.00 $300,000.00
2 $2,372.44
3 $2,372.44
4 $2,372.44
5 $2,372.44
6 $2,372.44
7 $2,372.44
8 $2,372.44
9 $2,372.44
10 $2,372.44
11 $2,372.44

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