**Problem Statement:**Marcel Thiessen purchased a home for **$206,900** and obtained a 15-year, fixed-rate mortgage at **9%** after paying a down payment of 10%. Of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.)- Interest: \$\[ \_\_\_\_\_\_ \]- Applied to the principal: \$\[ \_\_\_\_\_\_ \]**Instructions:**Enter your answers in the spaces provided.

Answered: (Round your $4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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