By completing the first two months of the amortization schedule for the following fixed rate mortgage, determine the payment on the principal in the second month.
Mortgage: $131,000
Interest rate: 9.5%
Term of loan: 25 years 
You will need the following table of monthly payments: 
Definitions:
Contribution Margin
The difference between sales revenue and variable costs, used to cover fixed costs and contribute to profit.
Net Profit
The amount of money remaining after all operating expenses, interest, taxes, and preferred stock dividends have been deducted from total revenues.
Goal Seek Analysis
A function in spreadsheet software that finds the input value needed to achieve a specified goal.
Inputs
Resources, materials, or information that are used in the production process to create goods or services.
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