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Question 2 You purchase a condominium for $ 1 2 5 , 0 0 0 . The bank requires a 2 0 % down payment.

Question 2
You purchase a condominium for $125,000. The bank requires a
20% down payment. You borrow the remainder as a 30-year, 6.6%
mortgage with monthly payments. What portion of the payments
during the first 33 months goes toward principal?
15.59%
15.17%
16.65%
14.74%
15.64%
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