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On June 1, you borrowed $330,000 to buy a house. The mortgage rate is 5.5 percent. The loan is to be repaid in equal monthly

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On June 1, you borrowed $330,000 to buy a house. The mortgage rate is 5.5 percent. The loan is to be repaid in equal monthly payments over 30 years. The first payment is due on July 1. Assume that each month is equal to 1/12 of a year. How much of the second payment (on August 1) applies to the principal balance? $

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