You want to buy a $214,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 5.6% interest for the rest. a) How much is the loan amount going to be? b) What will your monthly...

You want to buy a $214,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 5.6% interest for the rest.


a) How much is the loan amount going to be?


b) What will your monthly payments be?


c) How much of the first payment is interest?