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You purchase a cottage for$175,000. You obtain a20-year, fixed rate mortgage loan at11.0%after paying a down payment of30%.

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You purchase a cottage for$175,000. You obtain a20-year, fixed rate

mortgage loan at11.0%after paying a down payment of30%. 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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