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5.2 Assume that on 1 January 2022 WoW purchased a warehouse for $660,000, paying $60,000 in cash and signing a $600,000, 3 %, 10-year mortgage

5.2 Assume that on 1 January 2022 WoW purchased a warehouse for $660,000, paying $60,000 in cash and signing a $600,000, 3 %, 10-year mortgage payable that requires $5,794 monthly payments, which include principal and interest, beginning on 31 January 2022. Required Use the following table to prepare the first two monthly mortgage payment schedule in 2022. (8 Marks) Month Opening ending balance Monthly payment Interest expense Principal payment Ending balance 31/01/2022 28/02/2022

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