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You have purchased a home using a $175,000.00 mortgage at an interest rate of 7.25% for 25 years. Calculate the monthly payment and Outstanding

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You have purchased a home using a $175,000.00 mortgage at an interest rate of 7.25% for 25 years. Calculate the monthly payment and Outstanding Balance on this loan, after 24 years and 11 months, and then use this information to complete the table below. Monthly Payment: **Round pymt to 2 decimals and use this value to calculate O.B. Outstanding Balance after 299 months: ** (Round to the nearest cent) Round all values in table to the nearest cent. Monthly Interest on Prior Month Principle Payment Balance Outstanding Balance 24 years, 11 months

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