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You borrowed $100,000 to buy a house. Interest is 6% nominal per year, compounded monthly. You will repay the loan over the next 35 years
You borrowed $100,000 to buy a house. Interest is 6% nominal per year, compounded monthly. You will repay the loan over the next 35 years with monthly payments. Which payment number (I.e. #14) is most nearly 30% interest and 70% principal?
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