A $65,500 loan at 9% compounded monthly is to be repaid by equal payments at the end of each month for 4 years.

a. Calculate the size of the monthly payments.

Round to the nearest cent.

b. Fill out the partial amortization schedule, rounding the answers to the nearest cent.

Payment Number	Payment	Interest Portion	Principal Portion	Principal Balance
0				$65,500.00
1
2
: :	: :	: :	: :	: :
: :	: :	: :	: :	: :
				0.00