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Required information [The following information applies to the questions displayed below.] On January 1, 2024, Bloomfield Enterprises purchases a bulding for $327,000, paying $57,000 down
Required information [The following information applies to the questions displayed below.] On January 1, 2024, Bloomfield Enterprises purchases a bulding for $327,000, paying $57,000 down and borrowing the remaining $270,000, signing a 7%,10-year mortgage. Instaliment payments of $3,134.93 are due at the end of each month. with the first payment due on January 31, 2024. 4. Total payments over the 10 years are $376,192 ( $3,134,93120 monthly payments). How much of this is interest expense and how much is actual payment of the loan? (Round your final answers to the nearest whole dollar amount.)
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