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You take out a $200,000 mortgage with a 25-year term, and a 3.50% mortgage rate. What are the month payments? (8 pts) How much of

You take out a $200,000 mortgage with a 25-year term, and a 3.50% mortgage rate.

  1. What are the month payments? (8 pts)
  2. How much of the first payment was interest and principal?

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