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On June 1, the home mortgage balance was$292,000for the home owned by Eric Jackson. The interest rate for the loan is6percent. Assuming that Eric makes

On June 1, the home mortgage balance was$292,000for the home owned by Eric Jackson. The interest rate for the loan is6percent.

Assuming that Eric makes the June monthly mortgage payment of

$2920, calculate the following:

(a)The amount of interest included in the June 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 Eric makes this monthly mortgage payment.

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