$1$ Allocation of monthly payment

The Richardsons bought a house for $$150,000$ and made a $$30,000$ down payment and borrows the rest at $7\mathrm{.}5\%$ for $30$ Year.

Answer questions $1-3$

Payment

Monthly

Amount to

Amount to

Number

payment

interest

Principal Balance

$1$

$1$

$120,000\mathrm{.}00$

Monthly payment $=$ loan amount $\frac{?}{1000}$ table rate PG #$377$

Interest $=$ PXRXT

Pyment to principal$=$ monthly payment $-$ interest

New principal balance$=$ previous principal$-$payment to principal

a$)$ What is the monthly payment?

b$)$ what is the amount of the first paymet to interest?

c$)$ what is the amount of the first paymet to principal?

d$)$ What is the new principal?

what is the balance after the $5$ th payment?