Question: Complete the amortization schedule. Complete the Amortization Schedule for the first two pay periods for a 20-year house mortgage for $70,000 at 6.0%. First find

Complete the amortization schedule.

Complete the Amortization Schedule for the first two pay periods for a 20-year house mortgage for $70,000 at 6.0%. First find i. i=r/m=.06/12=.005. Now, fill out the table Payment # Interest for Period Portion to Principal Principal at End of Period 0 $70,000 $501.51 2$501,51 20 Using the info of problem #19, find the approximate remaining balance, B at the end of 5 years of payments. Write the formula and then substitute numerical values in the formula. Evaluate the resulting numerical expression. Provide a labeled numerical "ANS" such as FV $1.00. Page 5 of 5

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