Calculate the monthly payment and create a loan amortization table on a loan with an annual interest rate of 7%, a 2-year duration and a present value (amount borrowed) of P50,000. 1. Monthly Payment [Round your answer to two decimal places and don't put a comma and a negative sign]

2. Balance of the loan at the end of first year: [Round your answer to two decimal places and don't put a comma]

3. Interest component of the monthly payment at 24th month : [Round your answer to two decimal places and don't put a comma]

D E F B 7.00% 2 12 50,000.00 P mioca Payment Principal Interest Balance 1 A 1 Annual Interest Rate 2 Years 3 Payments Per Year 4 Amount borrowed 5 6 Payment Number 1 2 3 10 4 11 5 12 6 13 7 14 8 15 9 16 10 17 11 18 12 19 13 20 14 21 15 22 16 23 17 24 18 25 19 26 20 27 21 28 22 29 23 30 24 31 32 2 3