You have a mortgage for $189,000 with a 30-year term, 5.2% APR and payments of $1037.82. Using this information, please answer the following questions:

a. How much interest do you owe the first month of your mortgage?

b. How much principal do you pay the first month of your mortgage?

c. What is your new balance after you make your first payment?

d. How much interest do you pay over the life of your loan?