Question: Marcel Thiessen purchased a home for $ 2 0 4 , 2 0 0 and obtained a 1 5 - year, fixed - rate mortgage

Marcel Thiessen purchased a home for $204,200 and obtained a 15-year, fixed-rate mortgage at 7% 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.)

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