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28 You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with interest rate 5%. Assuming

28

You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with interest rate 5%. Assuming the total transaction cost is $5,000. How much is the principal payment in the 5th month?

Select one:

a. $482.57

b. $1,637.87

c. $1,658.61

d. $488.68

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