Shirley Trembley bought a house for $187,500. She put 20% down and obtains a simple interest amortized loan for the rest at 62% for thirty years. (Round your answers to the nearest cent.) (a) Find her monthly payment. $ 935.80 (b) Find the total interest. $ 186889.75 (c) Prepare an amortization schedule for the first two months of the loan. Payment Number Principal Portion Interest Portion Total Payment Balance 0 $ 187500 X 1 $ 150000 X $ 935.80 X $ 138.93 X $ 149861.07 2 $ 149861.07 x $ 796.14 138.93 X $ 149721.40 (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? 2462.63 per month