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. It's December 1, 2020 and you've just signed all the mortgage documents for a new condo and have taken out a loan with Homestreet

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. It's December 1, 2020 and you've just signed all the mortgage documents for a new condo and have taken out a loan with Homestreet Bank - congratulations. Below are the details for your loan: 15 year mortgage Monthly payments Interest rate of 3% (interest rates are always annual rates) Principal amount of loan: $240,000 What is the outstanding balance of your loan principal amount at the end of the year (1/31/21) after the second monthly payment is made? Clearly label your final answer. Show your work below for partial credit. If you used Excel to find your monthly payment, note your inputs below for partial credit. You can round to the nearest whole number in your work out below

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