O CONSUMER MATHEMATICS = Finding the interest paid, principal reduction, and new balance... On July 1, the home mortgage balance was $160,000 for the home owned by Betty Bryant. The interest rate for the loan is 9 percent. Assuming that Betty makes the July monthly mortgage payment of $1600, calculate the following: (a) The amount of interest included in the July payment (round your answer to the nearest cent). (b) The amount of the monthly mortgage payment that will be used to reduce the principal balance. (c) The new balance after Betty makes this monthly mortgage payment. (a) Interest amount: $0 (b) Principal reduction: $0 (c) New balance: $0