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Posted on Jul 22, 2024

Suppose you have taken out a $250,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 5.25%.

Suppose you have taken out a $250,000 fully-amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 5.25%. In month 2 of the mortgage, how much of the monthly mortgage payment does the principal repayment portion consist of ? show work

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