Assume a home mortgage monthly payment is $1,560 and the balance on the 30-year loan is currently $191,800. Knowing that the mortgage is financed with 4.45% APR, what do you know about the principal and interest portions of this upcoming month's payment?
a) Interest = $740.43 and Principal = $819.57
b) Interest = $711.26 and Principal = $848.74
c) Interest = $751.04 and Principal = $808.96
d) Not knowing what month is being discussed, you cannot calculate this.