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If you take out a loan for $ 2 5 5 , 0 0 0 at APR = 7 . 5 % to be repaid

If you take out a loan for $

255, 000

at APR

= 7.5 %

to be repaid over

20

years in monthly installments, how much of the debt do you pay off in the first year? In the second year? In the last year?

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