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Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 3% with monthly payments and monthly

Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 3% with monthly payments and monthly compounding. How much principal will you pay in the 1st year? (Round your answer to two decimal places).

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