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On March 1, you borrow $239,000 to buy a house. The mortgage rate is 7.75%. The loan is to be repaid in equal monthly payments

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On March 1, you borrow $239,000 to buy a house. The mortgage rate is 7.75%. The loan is to be repaid in equal monthly payments over 20 years. The first payment is due on April 1. What fraction of the fourth payment applies to the principal balance? (Assume that each month is equal to 1/12 of a year.) Select one: . a. 0.2175 b. 0.1535 c. 0.7825 . d. 0.4267 e. 0.2161 Q Search or enter website name LERTY 10

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