As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Amount Interest Financed Rate Term of Loan Monthly PI (years) Annual Property Tax Annual Insurance Monthly PITI $270,000 7.50% 25 $ $6,543 $2,126 3. [0.1/1 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 14.1.016. MY NOTES ASK YOUR TEACHER x Michael Sanchez purchased a condominium for $73,000. He made a 20% down payment and financed the balance with a 30 year, 5% fixed-rate mortgage. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan? $313.608 (b) Construct an amortization schedule for the first four months of Michael's mortgage. Payment Number Monthly Payment (in $) Monthly Interest (in $) Portion Used to Reduce Principal (in $) Loan Balance (in $) 0 $ 58,400.00 1 $ 261.34 x $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ (c) If the annual property taxes are $1,670 and the hazard insurance premium is $700 per year, what is the total monthly PITI of Michael's loan (in $)? $