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You are interested in buying a 2-bedroom property in downtown Cincinnati. The price is $500,000. You have a 30-year 8% APR mortgage with 25% down

You are interested in buying a 2-bedroom property in downtown Cincinnati. The price is $500,000. You have a 30-year 8% APR mortgage with 25% down payment. You plan not to make any prepayment. Answer the following questions What would be the monthly mortgage payment? How much is the principal payment in month 1

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