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Assume the following information for a home mortgage: Original loan amount = $130,000 Annual interest rate = 5.75% Term of loan = 30 years How
Assume the following information for a home mortgage:
Original loan amount = $130,000 Annual interest rate = 5.75% Term of loan = 30 years
How much principal and interest was paid in year four, and what is the principal balance on the loan after four years?
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