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You just took out a $870,000 fully amortizing loan, requiring monthly payments at 8.7 percent over 20 years. How much of the second payment applies
You just took out a $870,000 fully amortizing loan, requiring monthly payments at 8.7 percent over 20 years.
How much of the second payment applies to the principal balance? $
How much of the second payment is interest? $
How much of the third payment applies to the principal balance? $
How much will be paid in interest over the life of the loan? $
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