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Homework answers / question archive / Marcel Thiessen purchased a home for $202,800 and obtained 15-year fixed rate mortgage at 8% after paying a down payment of 10%

Marcel Thiessen purchased a home for $202,800 and obtained 15-year fixed rate mortgage at 8% after paying a down payment of 10%

Economics

Marcel Thiessen purchased a home for $202,800 and obtained 15-year fixed rate mortgage at 8% after paying a down payment of 10%. Of the first month's mortgage payment, how much interest and how much is applied to the principal?

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