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Assume you have recently purchased an investment property for $89,700 and you will be making monthly payments on the mortgage. If the mortgage is for

Assume you have recently purchased an investment property for $89,700 and you will be making monthly payments on the mortgage. If the mortgage is for 15 years at an interest rate of 5%, what will be the monthly payment? For the first monthly payment, how much will go towards interest payment and how much will go towards repayment of the loan?

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