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You take out a mortgage of $570,000. with a apr rate of 6.96% and it has a30-year term with monthly payments. a. In the first

You take out a mortgage of $570,000. with a apr rate of 6.96% and it has a30-year term with monthly payments.

a. In the first year, how much principal do you pay down? How much interest will be owed in that year?

b. In the 20th year how much how much principal will you pay & interest?

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