Bob Jones bought a new log cabin for $70,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)

	Portion to
Payment number	Interest	Principal	Balance of loan outstanding
1	$	$	$
2	$	$	$
3	$	$	$