calculate the monthly payment on a $289,000 mortgage with the following characteristics: 2.9% rate, 30-year mortgage (360 payments with 12 payments per year). The loan will be fully paid off when the last regular payment is made (the future value, FV, is zero).

Using the amortization feature (AMORT) for the loan above, how much will you owe after five years (the balance after 60 payments)?