A. Martha Williams wants to buy a home priced at $112,500. The interest rate is 9%, the down payment is 20%, and the length of the loan is 15 years. Calculate the monthly payment.
Purchase Price		$112,500.00
Interest Rate		9%
Length of Loan in Years		15
Down Payment Percent		20%
Down Payment
Amount Financed
Units
Factor		10.1427
Monthly Payment

B. Complete the amortization schedule for the first three months of the mortgage.
Month	Monthly Payment	Interest Portion	Principal Portion	Loan Balance
1
2
3