Finance question need help

Business & Finance
Tutor: None Selected Time limit: 1 Day

A 30-year, $220,000 mortgage has a rate of 5.1 percent.

 

1.

What are the interest and principal portions in the first payment? (Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)

 

 
  Interest  
  Principal  

 

2.

What are the interest and principal portions in the second payment? (Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)

 

 
  Interest  
  Principal 
Aug 22nd, 2015

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Aug 22nd, 2015

DATE PAYMENT PRINCIPAL INTEREST TOTAL INTEREST BALANCE
Sept. 2015 $1,194.49 $259.49 $935.00 $935.00 $219,740.51
Oct. 2015 $1,194.49 $260.59 $933.90 $1,868.90 $219,479.92
 As Mortgage payments are paid on monthly basis so the first payment 

Interest                   $ 935.00  

Principal                 $ 259.49  

The Second payment    

Interest                   $ 933.90  

Principal                 $ 260.59


Aug 22nd, 2015

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Aug 22nd, 2015
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