2. Prepare a loan amortization schedule for the first 3 months of the mortgage loan shown in the following table. Annual 5 rate: 7% Amount of mortgage: $250,000 Number of monthly payments: 240 Payment...

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Extracted text: 2. Prepare a loan amortization schedule for the first 3 months of the mortgage loan shown in the following table. Annual 5 rate: 7% Amount of mortgage: $250,000 Number of monthly payments: 240 Payment Number Monthly payment: S1550.00 Term: 20 years, 0 month Principal Payment Interest Payment T-PRT *Remember Ta year and you only want a month Balance of loan 1. 2. 3.