At the end of 10 years, calculating the loan balance of a constant payment mortgage is simply the:

	Present value of a single amount
	Present value of an ordinary annuity
	Future value of a single amount
	Future value of an annuity due

Consider a $2,000,000, 9%, 30-year, mortgage constant amortization mortgage (CAM) with monthly payments. Compute the first months payment.

	$15,000
	$20,556
	$23,200
	$66,557