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How much principal will be repaid in the second year on a 20-year, $60,000 mortgage requiring annual payments and a 10% annual interest rate? a.

How much principal will be repaid in the second year on a 20-year, $60,000 mortgage requiring annual payments and a 10% annual interest rate?

a. $1,725.70
b. $7,047.58
c. $1,047.58
d. $1,152.34
e. $5,895.24

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