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You have just purchaes a home and taken out a $500000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of

You have just purchaes a home and taken out a $500000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of 6%.

How much will you pay in interest, and how much will you pay in principal,during the first year? You have to manually calculate the solution and using excel is not allowed!

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