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Devon took out a fully amortizing 30-year mortgage with the initial balance of $339047. This mortgage has a fixed annual interest rate at 7%. After
Devon took out a fully amortizing 30-year mortgage with the initial balance of $339047. This mortgage has a fixed annual interest rate at 7%. After Ivan has completed 1 full years of monthly payments, how much have has Devon paid toward principal? Same question in different words, what is the difference between mortgage balance at origination and mortgage balance remaining after 1 years of monthly payments? Round your answer to the nearest cent (e.g., if your answer is $7000.9873, enter 7000.99).
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