Question: Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan

Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below):

principal: 740,000

annual interest rate: 6.70%

periods per year: 12

total number of payments: 360

Percentage rate per period:

Extra payment per month: 397.92

1. What is your monthly payment?

2. What is the total $ amount of payments made over the life of the loan

3. How many months will it take to pay off the loan if you pay an extra $397.92 per month?

Note: Enter the month when the whole principal is paid off. Also, remember to show the amortization table for the original payment before you submit.

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