1. Monica bought a $1500 stereo system for 20% down and payments of $240 per month (except for a smaller final payment) including interest at 14% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.)

Payment number	Payment	Interest portion	Principal portion	Principal balance
0	--	--	--	$1200.00
1	$	$	$
2
3
4
5
6

Total interest

$

2.

For a $450 000 mortgage at j₂ = 4.4% amortized over 25 years, determine: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a)	the level monthly payment required	$
b)	the outstanding balance just after the 48th payment	$
c)	the principal portion of the 49th payment	$
d)	the total interest paid in the first 48 payments	$