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You are looking to buy a house for $ 2 0 0 , 0 0 0 . Suppose a bank lends you a 3 0

You are looking to buy a house for $

200, 000 .

Suppose a bank lends you a

30 -

year, $

125, 000

mortgage with an annual rate of

5.5 %

with monthly payments. How much is the balance of the mortgage

(

principal

)

just after you make the first payment?

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