Hi there, Can you please help me solve this equation as soon as you can. Thank you very much. - Jaclyn

You plan to purchase a $180,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.5 percent. You will make a down payment of 10 percent of the purchase price.

a.Calculate your monthly payments on this mortgage.(Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Monthly payment$

b.Construct the amortization schedule for the first six payments.(Do not round intermediate calculations. Round youranswers to 2 decimal places. (e.g., 32.16))

Table for Amortization Schedule for first 6 payments (months)

Month|Beginning LoanBalance ($)|Payment ($)|Interest ($)|Principal ($)|Ending Loan ($)

1

2

3

4

5

6