You plan to purchase a $160,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6 percent. You will make a down payment of 10 percent of the purchase price

a.

Calculate your monthly payments on this mortgage

Construct the amortization schedule for the first six payments. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

Amortization Schedule for first 6 payments (months)

Amortization Schedule for first 6 payments (months)
Month	Beginning Loan Balance	Payment	Interest	Principal	Ending Loan Balance
1	$	$	$	$	$
2
3
4
5
6