Laura and Martin obtain a 25-year, 160,000 conventional mortgage at 10.5

10.5% on a house selling for180,000. Their monthly mortgagepayment, including principal andinterest, is $1510.40.

a) Determine the total amount they will pay for their house.

b) How much of the cost will beinterest?

c) How much of the first payment on the mortgage is applied to theprincipal?

a) The total amount that Laura and Martin will pay for their house is $

nothing

.

(Round to the nearest dollar asneeded.)

b) They will pay a total of $

nothing

in interest.

(Round to the nearest dollar asneeded.)

c) Of the first mortgagepayment, $

nothing

is applied to the principal.

(Round to the nearest cent asneeded.)