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You get a home mortgage today in the amount of $150,000 for 10 years at 12% interest, compounded monthly. How much of the first payment

You get a home mortgage today in the amount of $150,000 for 10 years at 12% interest, compounded monthly. How much of the first payment will be used to reduce the initial amount of the loan if this amortizing loan is repaid in equal monthly payments?

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$1,250.00
$512.50
$714.94
$652.06

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