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Consider a $55,832, 20-year mortgage at interest rate 6% compounded monthly with a $400 monthly payment. (a) How much interest is paid the first month?

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Consider a $55,832, 20-year mortgage at interest rate 6% compounded monthly with a $400 monthly payment. (a) How much interest is paid the first month? (b) How much of the first month's payment is applied to paying off the principal? (c) What is the unpaid balance at the end of 1 month

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