After considerable negotiation with its owners, you have purchased a home for $580,800. After a 20 percent down payment, you finance the remainder under a twenty-year mortgage at the annual percentage rate (APR) of 3.59%).

What are your monthly payments? Over time, what is the total cost of the home? After the third monthly payment, what is the total amount that you owe each in interest and principal? Show ALL your work, including your use of the formula.