5. Fill in the missing blanks in this loan amortization table.
$220,000, 20 year mortgage, APR-2.95%
a. Monthly payment?
b. First month ending balance?
b. Second month beginning balance?
c. Third month interest payment?
d. Fourth month principal payment?
Fifth month ending balance?
e.
Payment
Number
1
2
3
NT
5
Beginning
Balance
$220,000.00
b.
$218,650,78
$217,973.68
$217,294.92
Monthly
Payment
a.
a.
a.
a.
S
Towards
Interest
$540.83
$539.19
C.
$535.85
$534.18
Towards
Principal
$673.79
$675.44
$677.10
d.
$680.44
Ending
Balance
b.
$218,650.78
$217,973.68
$217,294.92