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Imagine Aaron could go back in time and redo the loan. They saved up as much money as they could and made a bigger down
Imagine Aaron could go back in time and redo the loan. They saved up as much money as they could and made a bigger down payment. Instead of a $140,000 loan at 4%, Aaron now has a $70,000 loan at 4%. c. Assume Aaron still has $240 a month in taxes and insurance, and still has a $900 monthly payment. How much of the first monthly payment (t = 30/365) is interest? How much money goes toward the principal?
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