Michael Sanchez purchased a condominium for $92,000. 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?

$ 395.23

(b) Construct an amortization schedule for the first four months of Michael's mortgage.

Payment Number	Monthly Payment (in $)	Monthly Interest (in $)	Portion Used to Reduce Principal (in $)	Loan Balance (in $)
0				$ __________
1	$ __________	$__________	$__________	$__________
2	$ __________	$ __________	$ __________	$__________
3	$ __________	$ __________	$ __________	$ __________
4	$__________	$ __________	$ __________	$ __________

(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 $)?

$ __________