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Daenerys Dragons purchased a building on January 1 by signing a long-term (20 years) $600,000 mortgage with monthly payments of $3,300. The mortgage carries an

Daenerys Dragons purchased a building on January 1 by signing

a long-term (20 years) $600,000 mortgage with monthly

payments of $3,300. The mortgage carries an interest rate of 5%

per year. How much of the first payment, which is due on

January 31, is interest and how much is principal?

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