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You just bought a condo and have a $400,000 30-year mortgage, interest rate of 5% annually. Annual payments of $26,021 are due at the end

You just bought a condo and have a $400,000 30-year mortgage, interest rate of 5% annually. Annual payments of $26,021 are due at the end of each year. How much is the mortgage balance after you make the first payment? $ Answer

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