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1. A fully amortizing constant payment mortgage loan is made for $350,000 at 8% for 20 years.

a. Create an amortization table showing the following information for the first 3 months of payments: beginning balance, monthly payment, amount of monthly payment going to interest, amount of monthly payment going to principal, and outstanding loan balance after payment is received.

b. What is the outstanding loan balance at the end of the tenth year?

1. A fully amortizing constant payment mortgage loan is made for $350,000 at 8% for 20 years. a. Create an amortization table showing the following information for the first 3 months of payments: beginning balance, monthly payment, amount of monthly payment going to interest, amount of monthly payment going to principal, and outstanding loan balance after payment is received. b. What is the outstanding loan balance at the end of the tenth year