$ b. How much of her first payment will go toward interest and principal? Interest will be $ Principal will be $ How much will she owe after that first month? (Hint: Use the logic of Table 9-2.) $ c. How much will she owe after three months? Do not round intermediate calculations. (Hint: Use the logic of Table 9-2.) Jable 9-4 Estimating Mortgage Loan Payments for Principal and Interest (Monthly Payment per \$1,000 Borrowed) Note: To use this table to figure a monthly mortgage payment, divide the amount borrowed by 1,000 and multiply by the appropriate figure in the table for the interest rate and time period of the loan. For example, a $160,000 loan for 30 years at 6.0 percent would require a payment of $959,280[($160,0001,000)5.9955]; over 20 years, it would require a payment of $1,146.29[($160,0001,000)7.1643]. For calculations for different interest rates, visit the Garman/Forgue companion website. Jable 9-2 Amortization Effects of Monthly Payment of $978.03 on a \$200,000, 30-Year Mortgage Loan at 4.2 Percent \begin{tabular}{|c|c|} \hline \multirow[t]{3}{*}{ First Month } & $200,0004.2%1/12=$700.00 Interest payment \\ \hline & $978.03700.00=$278.03 Principal repayment \\ \hline & $200,000278.03=$199,721.97 Balance due \\ \hline \multirow[t]{3}{*}{ Second Month } & $199,800.904.2%1/12=$699.02 Interest payment \\ \hline & $978.03699.02=$279.01 Principal repayment \\ \hline & $199,721.97279.01=$199,442.96 Balance due \\ \hline \multirow[t]{3}{*}{ Third Month } & $199,442.964.2%1/12=$698.05 Interest payment \\ \hline & $978.03698.05=$279.98 Principal repayment \\ \hline & $199,442.96279.98=$199,162.98 Balance due \\ \hline \end{tabular}