You are about to purchase your first house for $295,000. You have 15% of the purchase price for a down payment and you will finance the remaining amount with a 30-year fixed mortgage with a rate of 6.5%. 1. What is the amount of your monthly payment? 2. Assuming all regular payments are made, what percentage of your payments made in the first 5 years will be applied to principal? 3. What is the total dollar amount applied to interest after you have made your regular payments on this mortgage for 7 years?