Question: Solve this problem? I have a 15yr $115.000 mortgage at 7.1% What is the principle after $1040.09 1st payment? I have a 15 year $115,000 mortgage at 7.1%.  my monthly payment is $1040.09.  Find the principle after the first payment.

Answer: $114,640.32 \n $359.68 was paid towards your principal\n $680.41 was paid towards your interest
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