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You purchase a cottage for $175,000. You obtain a 20-year, fixed rate mortgage loan at 11.0% after paying a down payment of 30%. Of the

You purchase a cottage for $175,000. You obtain a 20-year, fixed rate mortgage loan at 11.0% after paying a down payment of 30%. Of the second month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answers to the nearest cent.)

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