Dylan is getting a mortgage for a house and will borrow $700,000. For this mortgage, the amortized loan requires annual

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answerhappygod
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Dylan is getting a mortgage for a house and will borrow $700,000. For this mortgage, the amortized loan requires annual

Post by answerhappygod »

Dylan is getting a mortgage for a house and will borrow
$700,000. For this mortgage, the amortized loan requires annual
payments for 9 years at a 6.3% annual interest rate. How much of
the first payment goes toward reducing the principal? Answer to the
nearest cent.
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