Michael Sanchez purchased a condominium for $79,000. He made a 20% down payment and financed the balance with a 30 year, 5% fixed-rate mortgage. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan? (b) Construct an amortization schedule for the first four months of Michael's mortgage. Payment Number 0 1 2 3 4 LA tA $ tA tA Monthly Payment (in $) SA LA $ tA $ tA Monthly Interest (in $) Portion Used to Reduce Principal (in $) t tA +A tA $ LA $ $ LA LA Loan Balance (in $) (c) If the annual property taxes are $1,670 and the hazard insurance premium is $640 per year, what is the total monthly PITI of Michael's loan (in $)? $

Use this tabie, if necessary) (a) What is the amount (in \$) of the monthly princlipal and interest portion, P1, of Michaer's loun? (b) Construct an amortization schedule for the first four months of Michael's mortgage. (c) If the annual property taxes are $1,670 and the hazard insurance premium is $540 per year, what is the total monthly PIt of Michacis loan (in $