Prepare an amortization schedule for the first 3 payments (in $) of a $62,000 mortgage at 5 for 20 years Use this table (Round your answers to the nearest cent ) Table 14 1 Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments (Necessary to amortize a loan of $1,000) Interest Rate ( ) 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years 35 Years 40 Years 3 50 18 19 9 89 7 15 5 80 5 01 4 49 4 13 3 87 3 75 18 30 10 01 7 27 5 93 5 14 4 63 4 28 4 03 4 00 18 42 10 12 7 40 6 06 5 28 4 77 4 43 4 18 4 25 18 53 10 24 7 52 6 19 5 42 4 92 4 58 4 34 4 50 18 64 10 36 7 65 6 33 5 56 5 07 4 73 4 50 4 75 18 76 10 48 7 78 6 46 5 70 5 22 4 89 4 66 5 00 18 87 10 61 7 91 6 60 5 85 5 37 5 05 4 82 5 25 18 99 10 73 8 04 6 74 5 99 5 52 5 21 4 99 5 50 19 10 10 85 8 17 6 88 6 14 5 68 5 37 5 16 5 75 19 22 10 98 8 30 7 02 6 29 5 84 5 54 5 33 6 00 19 33 11 10 8 44 7 16 6 44 6 00 5 70 5 50 6 25 19 45 11 23 8 57 7 31 6 60 6 16 5 87 5 68 6 50 19 57 11 35 8 71 7 46 6 75 6 32 6 04 5 85 6 75 19 68 11 48 8 85 7 6 6 91 6 49 6 21 6 03 7 00 19 80 11 61 8 99 7 75 7 07 6 65 6 39 6 21 7 25 19 92 11 74 9 13 7 90 7 23 6 82 6 56 6 40 7 50 20 04 11 87 9 27 8 06 7 39 6 99 6 74 6 58 7 75 20 16 12 00 9 41 8 21 7 55 7 16 6 92 6 77 8 00 20 28 12 13 9 56 8 36 7 72 7 34 7 10 6 95 8 25 20 40 12 27 9 70 8 52 7 88 7 51 7 28 7 14 8 50 20 52 12 40 9 85 8 68 8 05 7 69 7 47 7 33 8 75 20 64 12 53 9 99 8 84 8 22 7 87 7 65 7 52 9 00 20 76 12 67 10 14 9 00 8 39 8 05 7 84 7 71 9 25 20 88 12 80 10 29 9 16 8 56 8 23 8 03 7 91 9 50 21 00 12 94 10 44 9 32 8 74 8 41 8 22 8 10 9 75 21 12 13 08 10 59 9 49 8 91 8 59 8 41 8 30 10 00 21 25 13 22 10 75 9 65 9 09 8 78 8 60 8 49 10 25 21 37 13 35 10 90 9 82 9 26 8 96 8 79 8 69 10 50 21 49 13 49 11 05 9 98 9 44 9 15 8 98 8 89 10 75 21 62 13 63 11 21 10 15 9 62 9 33 9 18 9 08 11 00 21 74 13 78 11 37 10 32 9 80 9 52 9 37 9 28 11 25 21 87 13 92 11 52 10 49 9 98 9 71 9 56 9 48 11 50 21 99 14 06 11 68 10 66 10 16 9 90 9 76 9 68 11 75 22 12 14 20 11 84 10 84 10 35 10 09 9 96 9 88 12 00 22 24 14 35 12 00 11 01 10 53 10 29 10 16 10 08 12 25 22 37 14 49 12 16 11 19 10 72 10 48 10 35 10 29 12 50 22 50 14 64 12 33 11 36 10 9 10 67 10 55 10 49 12 75 22 63 14 78 12 49 11 54 11 09 10 87 10 75 10 69 13 00 22 75 14 93 12 65 11 72 11 28 11 06 10 95 10 90 Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $

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Question: Prepare an amortization schedule for the first 3 payments (in $) of a $62,000 mortgage at 5% for 20 years. Use this table. (Round your

Prepare an amortization schedule for the first 3 payments (in $) of a $62,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.)

Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed

Monthly Payments (Necessary to amortize a loan of $1,000)
Interest Rate (%)	5 Years	10 Years	15 Years	20 Years	25 Years	30 Years	35 Years	40 Years
3.50	18.19	9.89	7.15	5.80	5.01	4.49	4.13	3.87
3.75	18.30	10.01	7.27	5.93	5.14	4.63	4.28	4.03
4.00	18.42	10.12	7.40	6.06	5.28	4.77	4.43	4.18
4.25	18.53	10.24	7.52	6.19	5.42	4.92	4.58	4.34
4.50	18.64	10.36	7.65	6.33	5.56	5.07	4.73	4.50
4.75	18.76	10.48	7.78	6.46	5.70	5.22	4.89	4.66
5.00	18.87	10.61	7.91	6.60	5.85	5.37	5.05	4.82
5.25	18.99	10.73	8.04	6.74	5.99	5.52	5.21	4.99
5.50	19.10	10.85	8.17	6.88	6.14	5.68	5.37	5.16
5.75	19.22	10.98	8.30	7.02	6.29	5.84	5.54	5.33
6.00	19.33	11.10	8.44	7.16	6.44	6.00	5.70	5.50
6.25	19.45	11.23	8.57	7.31	6.60	6.16	5.87	5.68
6.50	19.57	11.35	8.71	7.46	6.75	6.32	6.04	5.85
6.75	19.68	11.48	8.85	7.6	6.91	6.49	6.21	6.03
7.00	19.80	11.61	8.99	7.75	7.07	6.65	6.39	6.21
7.25	19.92	11.74	9.13	7.90	7.23	6.82	6.56	6.40
7.50	20.04	11.87	9.27	8.06	7.39	6.99	6.74	6.58
7.75	20.16	12.00	9.41	8.21	7.55	7.16	6.92	6.77
8.00	20.28	12.13	9.56	8.36	7.72	7.34	7.10	6.95
8.25	20.40	12.27	9.70	8.52	7.88	7.51	7.28	7.14
8.50	20.52	12.40	9.85	8.68	8.05	7.69	7.47	7.33
8.75	20.64	12.53	9.99	8.84	8.22	7.87	7.65	7.52
9.00	20.76	12.67	10.14	9.00	8.39	8.05	7.84	7.71
9.25	20.88	12.80	10.29	9.16	8.56	8.23	8.03	7.91
9.50	21.00	12.94	10.44	9.32	8.74	8.41	8.22	8.10
9.75	21.12	13.08	10.59	9.49	8.91	8.59	8.41	8.30
10.00	21.25	13.22	10.75	9.65	9.09	8.78	8.60	8.49
10.25	21.37	13.35	10.90	9.82	9.26	8.96	8.79	8.69
10.50	21.49	13.49	11.05	9.98	9.44	9.15	8.98	8.89
10.75	21.62	13.63	11.21	10.15	9.62	9.33	9.18	9.08
11.00	21.74	13.78	11.37	10.32	9.80	9.52	9.37	9.28
11.25	21.87	13.92	11.52	10.49	9.98	9.71	9.56	9.48
11.50	21.99	14.06	11.68	10.66	10.16	9.90	9.76	9.68
11.75	22.12	14.20	11.84	10.84	10.35	10.09	9.96	9.88
12.00	22.24	14.35	12.00	11.01	10.53	10.29	10.16	10.08
12.25	22.37	14.49	12.16	11.19	10.72	10.48	10.35	10.29
12.50	22.50	14.64	12.33	11.36	10.9	10.67	10.55	10.49
12.75	22.63	14.78	12.49	11.54	11.09	10.87	10.75	10.69
13.00	22.75	14.93	12.65	11.72	11.28	11.06	10.95	10.90

Payment Number	Monthly Payment	Monthly Interest	Portion Used to Reduce Principal	Loan Balance
0				$
1	$	$	$	$
2	$	$	$	$
3	$	$	$	$

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