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Consider a standard mortgage {360 months) with monthly payments and a nominal rate (monthly compounding) of 5.50%. What portion of the payments during the first
Consider a standard mortgage {360 months) with monthly payments and a nominal rate (monthly compounding) of 5.50%. What portion of the payments during the first 24 months goes toward interest? 73.94% 78.72% 79.67% 72.05% 82.10%
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