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Bennett took out a $562,000, 20-year mortgage at 6.3 percent APR. The loan requires equal monthly payments, with the first payment due in one month.

Bennett took out a $562,000, 20-year mortgage at 6.3 percent APR. The loan requires equal monthly payments, with the first payment due in one month. How much of the sixth payment applies to the principal balance?

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$1,190.37

$1,199.29

$1,213.91

$1,204.99

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