You have purchased a home using a $150,000.00 mortgage at an interest rate of 6.25% for 20 years. Calculate the monthly payment and Outstanding Balance on this loan, after 7 years, and then use this information to complete the table below. Monthly Payment: 1406.8566 (DO NOT ROUND THE MONTHLY PAYMENT AMOUNT HERE! USA EXACT monthly payment value to find Outstanding Balance below.) Outstanding Balance after 7 years: (Round final answer to the nearest cent) * Round all values in table to the nearest cent. Month Monthly Interest on Prior Payment Balance 1406.86 7 years, 1 month Principle Outstanding Balance 7 years, 2 months 1406.86 7 years, 3 months 1406.86