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You purchase a cottage for $180,000. You obtain a 30-year, fixed rate mortgage loan at 11.0% after paying a down payment of 25%.

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You purchase a cottage for $180,000. You obtain a 30-year, fixed rate

mortgage loan at 11.0% after paying a down payment of 25%. 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.)
interest    $
applied to the principal    $

 
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