When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 6% per year. The annual payment on the mortgage is $12,000.

a. What was the amount of the original loan that you took? b. Prepare an amortization table for the loan

c. You have lived in the house for 12 years (so there are 18 years left on the mortgage) and you wish to pay off the mortgage by repaying the outstanding balance. What is your outstanding balance?