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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 25 months goes toward principal?

21.29%

21.66%

20.38%

18.53%

20.74%

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