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A family borrowed $72,000 to buy a house. The loan was at 7.9% and for 25 years. The monthly payments were $550.95 each. (a) How

A family borrowed $72,000 to buy a house. The loan was at 7.9% and for 25 years. The monthly payments were $550.95 each.

(a) How much of the first month's payment was interest, and how much was principal?

interest .........$

principal ............$

(b) What was the total amount paid over the 25 years?

$...........

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