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On September 1, the home mortgage balance was $200,000 for the home owned by Susan Cooper. The interest rate for the loan is 7.125 percent.

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On September 1, the home mortgage balance was $200,000 for the home owned by Susan Cooper. The interest rate for the loan is 7.125 percent. Assuming that Susan makes the September monthly mortgage payment of S1600, calculate the following: (a) The amount of interest included in the September 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 Susan makes this monthly mortgage payment. (a) Interest amount: 50 ? (b) Principal reduction: (c) New balance

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