We suggest the use of a spreadsheet to create the amortization tables.

You take out a $30-$year mortgage for $$70,000$ at $9\mathrm{.}25\%,$ to be paid off monthly. Construct an amortization table showing how much you will pay in interest each year for the first $15$ years and how much goes toward paying off the principal. If you sell your house after $15$ years, how much will you still owe on the mortgage according to the amortization table? HINT $[$See Example $8.]($Round your answer to the nearest cent.$)$