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? $395.12 (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 $ 395.12 $383.36 X 2 $ 395.12 $ $ 3 $395.12 $ $ $ 4 395.12 $ (c) If the annual property taxes are $1,670 and the hazard insurance premium is $700 per year, what is the total monthly PITI of Michael's loan (in $)? $592.62