POSSIBLE POINTS: 22 1. Johnny and Lucy have purchased a home for $ 365,000. They will need to obtain a mortgage for 85% of that amount. The Near State Bank will give them a mortgage for 30 years at 9.5% interest. Their monthly payment will be $ 2,608.75. Over the first 4 months, how much will go towards interest and how much will go towards principal? Payment Balance Monthly Payment Interest 1 310,250 2,500.50 2456.15 2 310,205,65 2,500,50 245494 3 310,160.94 2,500.50 2453.72 4 310.115.88 2,500.50 245249 Total 9,816.09 3 4 un 6 7 CO 9 10 11 12 Nes O o 8 of 16 SSIBLE POINTS: 22 that amount. ill be $ 2,608.75. 2 a Interest Principal New Balance 2456.15 30 152.6 2454 94 153.81 2453.72 155.03 2452.49 156.26 9,816 09 6177 9 10 11 12 Next SINO US