3. Examine the following loan amortization table for the first 5 months of a $475,000,
25-year mortgage with an APR of 5.45%. Complete the table.
Payment
number
Beginning
Monthly
Towards
Balance
Payment
Interest
Towards
Principal
Ending
balance
1
475,000
2157.29
745.46
474254.54
2
2153.91
748.84
473505.7
3
473,505.7
573.24
472,753.46
4
472,753.46
2147.09
471,997.8
in
5
471,997.8
2902.75
2143.66
759.09
6
471,238.71
2902.75
2140.21
470,476.17