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Patrick Cantlay just purchased a home for $800,000. His mortgage is a 30-year mortgage, that requires monthly payments, and has an interest rate of 8.3%

Patrick Cantlay just purchased a home for $800,000. His mortgage is a 30-year mortgage, that requires monthly payments, and has an interest rate of 8.3% compounded monthly. How much of Patrick's first mortgage payment will go toward the principal of the loan?

Multiple Choice

$605.93

$6,038.28

$5,533.33

$504.94

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