Loan amortization schedule. Assume that you borrow $60,000 on 10/1/2017. The loan is payable monthly beginning on 11/1/2017 and has a maturity of 18 months. The interest rate on the loan is 5.00%. You are to build an amortization schedule. A) First, what is the monthly payment? B) Secondly, what is the principal and interest payment due on 7/1/2018? C) Finally, what is the outstanding principal balance as of 1/1/2019 (following the beginning-of-the-month payment)?
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