Step 1

You purchase a home for$203,200and obtain a 15-year, fixed-rate mortgage at8%after paying a down payment of 10%. Find the monthly mortgage payment. (Round your answer to the nearest cent.) mortgage payment $1747.70

1747.70

Step 2

The monthly mortgage payment is$1747.70. Of the first month's mortgage payment, how much is interest? (Round your answer to the nearest cent.) interest $1219.20

1219.20

Step 3

Of the first month's mortgage payment,$1219.20is interest. Of the first month's mortgage payment, how much is applied to the principal? (Round your answer to the nearest cent.) applied to the principal $