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Patrick Cantlay just purchased a home for $600,000. His mortgage is a 30-year mortgage, that requires monthly payments, and has an interest rate of 7.5%

Patrick Cantlay just purchased a home for $600,000. His mortgage is a 30-year mortgage, that requires monthly payments, and has an interest rate of 7.5% compounded monthly. How much of Patrick's first mortgage payment will go toward the principal of the loan? Multiple Choice O O O $534.34 $3,750.00 $4,195.29 $445.29
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Patrick Cantlay just purchased a home for $600,000. His mortgage is a 30-year mortgage, that requires monthly payments, and has an interest rate of 7.5% compounded monthly. How much of Patrick's first mortgage payment will go toward the principal of the loan? Multiple Choice $534.34 $3750.00 $4,195.29 $445,29

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