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1. Each payment on a mortgage note payable consists of: a. interest on the original balance of the loan. b. reduction of loan principal only.

1. Each payment on a mortgage note payable consists of: a. interest on the original balance of the loan. b. reduction of loan principal only. c. interest on the original balance of the loan and reduction of loan principal. d. interest on the unpaid balance of the loan and reduction of loan principal.

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