Question: Next Question Use PMT= to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $200,000

 Next Question Use PMT= to determine the regular payment amount, rounded

Next Question Use PMT= to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $200,000 40-year fixed-rate mortgage at 3%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. 3. The monthly payment is $. Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $. Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest 1 $ 2 $ Principal $ Loan Balance $ $ $ $ $ 3 $ Use the answer from part a to find these answers. Round to the nearest cent as needed.)

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