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The Howe family recently bought a house. The house has a 30-year, $278.218.00 mortgage with monthly payments and a nominal interest rate of 48 percent.

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The Howe family recently bought a house. The house has a 30-year, $278.218.00 mortgage with monthly payments and a nominal interest rate of 48 percent. What is the total dollar amount of principal the family will pay during the first 5 years of their mortgage? (Assume that all payments are made at the end of the month.) 22.467.36 25,467.36 0 23.467.36 24,467 36 26,467.36 *uestion

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