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You take out a $300,000 15-year mortgage loan with an APR of 5% paid monthly. Out of your 48th months mortgage payment, what is the
You take out a $300,000 15-year mortgage loan with an APR of 5% paid monthly. Out of your 48th months mortgage payment, what is the amount that corresponds to interest payment, and what is the amount that corresponds to "principal" payment applied to reduce the mortgage loan balance?
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