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Consider a 30 year mortgage for $442,264 as in the previous section. What would happen if the interest rate / year dropped from 9.21% to
Consider a 30 year mortgage for $442,264 as in the previous section. What would happen if the interest rate / year dropped from 9.21% to 7.95%. How much of each year's payment goes to paying interest vs. how much goes to reducing the principal under the two interest rates?
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