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You plan to purchase a $ 1 5 0 , 0 0 0 house using a 3 0 - year mortgage obtained from your local

 

You plan to purchase a $150,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 4 percent. You will make a down payment of 20 percent of the purchase price.

Calculate the amount of principal paid in the 1st payment.

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