Consider the following fixed-rate mortgage: Maturity = 360 months Amount borrowed = $200,000 Annual mortgage rate = 7% By constructing the amortization schedule for the first 3 months: The Interest Payment in the second month is $_____

The Principle Repayment in the third month is $_______

Without constructing an amortization schedule: The Mortgage Balance at the end of month 120 is $_______

The Principle Repayment in month 120 is $________