9-17

Problem 9-1A (Algo) Record and analyze installment notes (LO9-2) [The following information applies to the questions displayed below. On January 1, 2024, Howell Enterprises purchases a building for $217,000, paying $47,000 down and borrowing the remaining $170,000, signing a 7%,10-year mortgage. Installment payments of $1,973.84 are due at the end of each month, with the first payment due on January 31,2024. Problem 9-1A (Algo) Part 4 Total payments over the 10 years are $236,861 (\$1,973.84 120 monthly payments). How much of this is interest expense and how huch is actual payment of the loan? (Round your final answers to the nearest whole dollar amount.)