Question #7: 30 Points The IOU Inc, recently took a mortgage on a property for $200,000. The interest is 12% and the monthly payment is $2,500 Prepare the first four months of the amortization table. Payment # Payment 1 $2,500 2 $2,500 3 $2,500 4 $2,500 Interest Expense Principle Reduction Balance $200,000