Ron borrowed $12,000 from Neville at a rate of 3% compounded monthly. Ron has agreed to pay Neville back in monthly payments over the course of 3 years. Complete the first and fifth payments of the amortization schedule below. Round numbers to 2 places after the decimal. Hint: If using amortization table on your calculator, re-enter the rounded PMT amount. 1/Y c/Y N PV PMT FV P/Y 3 12 12 36 12000 -348.10 0 Payment Pmt # Interest Portion Principal Portion Principal Balance (enter as a positive number) 0 ****************** **************** *************** 12000 1 348.1 4 *************** ****************** ************ ****************** 5