Shirley Trembley bought a house for $$181,800.$ She put $20\%$ down and obtains a simple interest amortized loan for the rest at

$6$

$3$

$8$

$\%$

for thirty years. $($Round your answers to the nearest cent.$)$

$($a$)$ Find her monthly payment.

$

$($b$)$ Find the total interest.

$

$($c$)$ Prepare an amortization schedule for the first two months of the loan.

Payment

Number Principal

Portion Interest

Portion Total

Payment Balance

$0$ $

$1$ $

$

$

$

$2$ $

$

$

$

$($d$)$ Most lenders will approve a home loan only if the total of all the borrower's monthly payments, including the home loan payment, is no more than $38\%$ of the borrower's monthly income. How much must Shirley make to qualify for the loan?

$

per month