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You recently obtained a $135,000, 30-year mortgage with a nominal interest rate of 7.25%. Assume that payments are made at the end of each month.

You recently obtained a $135,000, 30-year mortgage with a nominal interest rate of 7.25%. Assume that payments are made at the end of each month. What portion of the total payments made during the fourth year will go towards the repayment of principal?

9.70%

15.86%

13.75%

12.85%

14.69%

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