Daniel and Jan agreed to pay $559,000 for a four-bedroom colonial home in Waltham, Massachusetts, with a $70,000 down payment. They have a 25-year mortgage at a fixed rate of 63 %. (Use Table 15.1.) a. How much is their monthly payment? Note: Round your answer to the nearest cent. Monthly payment b. After the first payment, what would be the balance of the principal? Note: Round your answers to the nearest cent. Payment number Portion to- Balance of loan Interest Principal outstanding 1