Question: Suppose you take out a $ 2 8 9 , 5 0 0 mortgage for 3 0 years at 3 . 1 % interest. (
Suppose you take out a $ mortgage for years at interest.
a Find the monthly payment on this mortgage. $
b Fill out the first two rows of the amortization schedule below. Round your answers to the nearest dollar.
Payment Number Interest Payment Principal Payment Balance of Loan
$
$
$
$
$
$
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