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Posted on Jul 30, 2024

An investor obtains a mortgage for $ 4 1 0 , 0 0 0 for 2 5 years, with monthly payments at an APR of

An investor obtains a mortgage for $

410, 000

for

25

years, with monthly payments at an APR of

7 % (

monthly compounding

) .

How much principal will be paid on the loan with the

9

th payment?

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