1. Type out equation and fill it in. 2. Put formulas into excel and show numbers and formula.

NEGATIVE AMORTIZING MORTGAGE . Loan amount of $60,000 Interest rate of 6% Term of 30 years Balloon payment of $80,000 What is the monthly payment? What is the outstanding mortgage amount at the end of period 109? What is the principal payment during the period 341? What is the mortgage balance at the end of the 30 years if the monthly payment was fixed at $200 per month