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4. Suppose you take out a 15-year mortgage of $100,000 with monthly payments at an interest rate of 3%, convertible monthly. For the payment you

4. Suppose you take out a 15-year mortgage of $100,000 with monthly payments at an interest rate of 3%, convertible monthly. For the payment you make at the end of year 4, when k = 48, determine how much of the payment is interest and how much pays down the principal. (Hint: first determine B47.)

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