Question: Consider the first payment against a $ 2 0 0 , 0 0 0 mortgage that last for 2 5 years. Fixed repayments are made

Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below.
Payment # Payment Interest Debt Payment Balance
1 d 716.67 p1 b1
2............
Calculate p1, the first payment made against the loan principal debt.
Round your answer to the nearest dollar.
Do NOT round until you calculate the final answer.

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