1. Use the formula or a calculator application to find the monthly payment on a home mortgage of $279,558 at 4.560% interest for 25 years. The monthly payment is about $

2.

Make an amortization table to show the first two payments for the mortgage.

Amount of mortgage	Annual interest rate	Years in mortgage	Monthly payment
$100,000	5.50%	30	$568.00

Month	Monthly payment	Interest	Principal	End-of-month principal
1	$568.00	$enter your response here	$enter your response here	$enter your response here
2	$568.00	$enter your response here	$enter your response here	$enter your response here

(Round to the nearest cent as needed.)