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You have a 15 year, 5% fully amortized mortgage. What fraction of the payment in the 9 th payment will represent the interest? (note: the

You have a 15 year, 5% fully amortized mortgage. What fraction of the payment in the 9^th payment will represent the interest? (note: the mortgage is quoted as APR compounded monthly)

Please retain at least six places of a decimal in calculations.

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