A suburban lawn service bought 10 new mowers at $3000 each. The company made a $5000 down payment and financed the balance at an annual rate of 9% with monthly payments for 4 years. Use the Loan Payoff Table to prepare an amortization schedule for the first five payments of the loan. Click the icon to view the Loan Payoff Table. Loan Payoff Table Number of Months APR 18 24 36 42 APR .05914 .04523 .03688 .03134 .02738 .02441 .02211 .02028 8% 9% .05960 .04568 03735 .03180 .02785 .02489 .02259 02076 9% 10% .06006 .04615 .03781 .03227 .02832 .02536 .02307 .02125 10% 11% 06052 .04661 .03828 03274 .02879 .02585 02356 .02174 11% 12% .06098 .04707 .03875 .03321 .02928 02633 .02406 .02225 12% 13% .06145 .04754 .03922 03369 .02976 02683 .02456 02275 13% 14% .06192 .04801 .03970 .03418 .03025 02733 .02507 02327 14% 15% .06238 .04849 .04018 .03467 .03075 .02783 .02558 02379 15% 16% .06286 .04896 .04066 .03516 .03125 02834 .02610 02432 16% 17% .06333 .04944 .04115 .03565 .03176 .02885 .02662 .02485 17% 18% .06381 .04993 .04164 .03615 .03226 .02937 .02715 .02539 18% 19% 06428 .05041 .04213 03666 .03278 .02990 .02769 .02594 19% 20% .06476 05090 .04263 .03716 03330 .03043 02823 .02649 20%