Question $21(6$ points$)$

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You have just bought a house and have taken out a mortgage $($an installment$)$ loan for $$500,000.$ This is a $30-$year loan that requires monthly payments and the first payment is due one month from today. The APR for the loan is $12\%.$ You are interested to know how much of your ${210}^{th}$ monthly payment will go toward the repayment of principal?

That amount is $$

Calculate your answer to the nearest $$\mathrm{.}01$ and do not use the $ sign. Enter your answer as a positive number. For example if you obtain a result of $$1,245\mathrm{.}739$ then enter $1245\mathrm{.}74$; if the result is $$340,$ then enter $340\mathrm{.}00$

Your Answer:

$$

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