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You have a 30-year, $160,000 mortgage. The interest rate is 4.75%. If you decide to pay $1,000 as your first payment, by how much will

You have a 30-year, $160,000 mortgage. The interest rate is 4.75%. If you decide to pay $1,000 as your first payment, by how much will you prepay your mortgage?

Multiple Choice

$175.03
$834.64
$165.36
$179.00
$170.39

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