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To buy your first home, you take out a 15 year (fully amortizing) mortgage for $550,000 which requires equal yearly payments. The effective annual interest

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To buy your first home, you take out a 15 year (fully amortizing) mortgage for $550,000 which requires equal yearly payments. The effective annual interest rate is 4.6%. How much principal do you pay off in year 3? $51,565.29 $22,828.02 $30,059.19 None of these $28,73727

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