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Mary borrowed $350,000 to buy a house. Her loan cost was 9.5% and she promised to repay the loan in 15 equal annual payments. What
Mary borrowed $350,000 to buy a house. Her loan cost was 9.5% and she promised to repay the loan in 15 equal annual payments. What is the principal loan outstanding after the first loan payment? $316,750 $326,667 $305,350 $338,540
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