Problems 1 - 6 refer to the following. You purchase a car for 531,000, put 54000 down, and have a loan for 5 years 6% making monthly payments. Use your answer in 1. to complete the amortization schedule. 1. What is the monthly payment? a. $427.55 b. 5431.01 c. $496.33 d. 5521.99 month PMT Beginning balance Question 2 Interest paid on principle Question 3 Amount paid on principle Question 4 Ending Balance Question 5 2. Month 1, Beginning balance a $25,503.67 b. 525,572.45 c. $27,000.00 d. $31,000.00 3. Month 1, Interest paid on principle a. $104.22 b. $135.00 C. $174.56 d. $189.81 4. Month 1, amount paid on principle a. $376.52 b. 5386.99 c. $401.65 d. 5431.87 5. Month 1, ending balance a $25,927,45 b. 526,789.54 c. $26,613.01 d. $29,731.01 6. What will be the ending balance at the end of month 60? a. Exactly one monthly payment b. Exactly one month's interest payment C Exactly one month's payment on principle d. Exactly $0.00